Hartford, Conn.-based Aetna's board authorized more stock repurchases last week, prompting the payer to spend $3.3 billion to purchase back additional stock, ABC News reports.
Here are five key points:
1. Aetna's board granted the authorization on Feb. 17, 2017.
2. Aetna plans to purchase more than 20 million company shares.
3. On Feb. 22, 2017, the company said it formed accelerated buyback agreements with two dealers for almost 10.4 million shares each.
4. In late January 2017, U.S. District Judge John Bates blocked Aetna's proposed $37 billion acquisition of Louisville, Ky.-based Humana, saying the deal would likely diminish competition in the Medicare Advantage market. Aetna owed Humana a $1 billion breakup fee as per the merger agreement.
5. Aetna shares have jumped more than 3 percent since Aetna and Humana terminated their deal.