CVS, Aetna expect merger Wednesday
CVS Health and Aetna said in regulatory filings that they have the final regulatory approval needed and expect to close on or around Wednesday.
CVS Health Corp. had told investors earlier this month that it expected to close the deal for the nation’s third-largest health insurer before Thanksgiving. But its shares slipped last week after the drugstore chain and pharmacy benefit manager said it still lacked approval from two states.
The companies plan to dive deeper into providing care with help from CVS’s nearly 10,000 locations.
Sequoyah smoke brings fire crews
Smoke at TVA’s Sequoyah Nuclear Power Plant Monday morning activated TVA fire crews and the Dallas Bay Volunteer Fire Department and required the utility to notify regulators of ab “unusual event” – the lowest emergency classification at the Unit 2 reactor at Sequoyah.
The emergency designation was lifted by about two hours after the fire alarms sounded and fire crews stood down when no fire or flames were reported and the smoke problem was resolved. TVA spokeswoman Malinda Hunter said “plant personnel are safe” and there was no equipment damage, but TVA and Nuclear Regulatory Commission staff are still investigating the incident.
“During scheduled maintenance at the Sequoyah Nuclear Plant, oil from a tool came in contact with a hot surface causing it to smoke,” Hunter explained. “TVA’s emergency staff responded immediately – no fire or safety issues.”
Mitsubishi removes chairman
Carlos Ghosn, one of the auto industry’s most powerful leaders, lost another title Monday when the board of Mitsubishi Motors removed him as chairman, one week after he was arrested in Tokyo on suspicion of financial misconduct.
Ghosn, who was stripped of the chairmanship of Nissan last week in a unanimous vote of the board, remains in a Tokyo detention center where he sees his lawyer for about an hour or so each day. He is being questioned by prosecutors after Nissan said that he underreported his income to Japanese regulators over several years. He has not been charged with any crime.
In a statement Monday, Osamu Masuko, chief executive of Mitsubishi, said the board had removed Ghosn because “he lost the trust of Nissan and he cannot execute his duties as chairman and representative director any longer.”
Masuko added that if Ghosn remained as chairman, it could expose Mitsubishi to “reputation risk.”
Prosecutors have also been questioning Greg Kelly, a former Nissan human resources manager who was removed from the company’s board last week over allegations that he conspired with Ghosn to underreport Ghosn’s compensation in government securities filings and to use company funds for personal expenses.