ING/WellPoint and Aetna may or may not be talking, but several Aetna shareholders definitely want them to. Following Aetna’s rejection of their bid, which analysts valued at close to $70 a share, Aetna announced that it intended to split into two companies. Its shares have since fallen to the low $50s, which is at least better that its eight-year low of $38.50 a share reached in February. The complaining shareholders thought the takeover rejection was an error and have filed suit against Aetna in a Connecticut Superior Court alleging that it refused to adequately consider the ING/WellPoint bid simply to protect current management.
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