The Department of Justice has less than a week to intervene in UnitedHealth Group's $8 billion acquisition of Change Healthcare, according to a Securities and Exchange Commission filing submitted last week.
The two companies previously entered into a timing agreement with the DOJ that prevented the deal from closing sooner than Feb. 22. As part of that agreement, UnitedHealth and Change also said they would give the department 10 days notice of their plans to consummate the merger.
In the filing, dated Feb. 17, Change Healthcare says the merger is set to close on Feb. 27, setting a deadline for the agency to take legal action to block the potential deal.
Reports surfaced on Feb. 15 that DOJ was planning to do just that. Similar rumors swirled in August 2021, though the agency did not initiate litigation at that time.
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Dealreporter reported, citing sources familiar with the deal, that the companies were preparing for a "last rites" meeting with the DOJ in anticipation of a suit.
Change's stock took a tumble on Feb. 15 in the wake of the news.
The American Hospital Association and other groups have urged DOJ to take a closer look at the acquisition, saying that it would create a "massive consolidation" of healthcare data.
Should the deal close, UnitedHealth Group plans to fold Change Health into its Optum subsidiary.