Aetna purchase of Humana approved

The Illinois Department of Insurance has approved Aetna Inc’s proposed USD34 billion acquisition of Humana Inc provided it is approved by the US Department of Justice, according to an order posted on the department’s website.

Aetna announced the deal a year ago and it is under review by the Justice Department, which is looking at competition concerns around its combined Medicare Advantage business for older people and the disabled.

“We now have change of control approvals in 17 of the 20 states required and continue to cooperate with the Department of Justice on its review,” Aetna spokesman T.J. Crawford said.

The company continues to expect the transaction to close in the second half of 2016, he said.