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Change Healthcare / UnitedHealth say DOJ has until Feb. 27 to challenge deal (NASDAQ: CHNG)


UnitedHealthcare Indiana Office.  UnitedHealth Group Provides Employer, Individual and Family Health Insurance.

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United Healthcare (NYSE: UNH) and Change Healthcare (NASDAQ: CHNG) disclosed that the US Dept of Justice has until Feb. 27 to sue to block the transaction. Change Healthcare fell 2.6% in after hours trading.

The companies originally agreed to a timing agreement with the DOJ to not consummate the deal until Feb. 22. The timing agreement also provided that the companies will provide the DOJ with 10 days’ notice before the consumption of the merger, during which time the DOJ may seek to block the deal through the filing of a lawsuit. Effective Feb 17, the companies provided notice to the DOJ, according to an 8-K filing.

The news comes after a report on Tuesday that the DOJ was preparing a lawsuit to block United Healthcare (UNH) from purchasing the company Change Healthcare (CHNG). The DOJ had not found any divestitures that would be acceptable to allay the antitrust concerns for the combination.

In December UNH pushed back the deadline to complete its merger with Change Healthcare (CHNG) to April 5 as it worked to gain regulatory approval for the deal. In November, the companies agreed with the Department of Justice to not complete the transaction before Feb. 22.

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