Willkie advised Aetna on the deal
The Hartford has entered into a definitive agreement to acquire Aetna’s U.S. group life and disability business for cash consideration of $1.45 billion. This acquisition deepens and enhances The Hartford’s Group Benefits distribution capabilities and accelerates the company’s technology strategy. Aetna has several options for use of the proceeds of the transaction, including but not limited to internal investments to enhance the company’s customer experience, share repurchases and repayment of debt. The acquisition is expected to close in early November 2017, subject to state regulatory approvals and other customary closing conditions.
Aetna and The Hartford will work together to support their mutual customers. In addition, the majority of the Aetna Group Insurance employees across the country who support the acquired business will transfer to The Hartford.
Aetna (NYSE: AET) is one of the nation’s leading diversified health care benefits companies, serving an estimated 44.7 million people with information and resources to help them make better informed decisions about their health care.
The Willkie deal team was led by partners Michael Groll (Picture) and Rajab S. Abbassi.
Law Firms: Willkie Farr & Gallagher;
Clients: Aetna Inc.;