UnitedHealth Group Inc. announced it has completed its acquisition of PacifiCare Life and Health Insurance Company.
Under the agreement, stockholders for PacifiCare, a subsidiary of PacifiCare Health Systems Inc., Cypress, Calif., are to receive $21.50 in cash and 1.10 shares of UnitedHealth Group, Minneapolis, for each share of PacifiCare common stock.
The announcement came after the Dept. of Justice approved the merger.
According to a report in Reuters, the DOJ’s antitrust division imposed some provisions on the deal aimed at preserving competition in the marketplace.
The division approved the deal after UnitedHealth agreed to shed parts of PacifiCare’s commercial health insurance business in Tucson, Ariz. and Boulder, Colo.