WASHINGTON (Reuters) -A U.S. judge on Monday denied the Justice Department’s request to stop UnitedHealth Group (NYSE:) from buying Change Healthcare (NASDAQ:), according to a court filing.
Change’s shares rose 7% after the close of trading.
The Justice Department filed a lawsuit in February aimed at stopping the $8 billion acquisition, saying the deal would give the largest U.S. health insurer access to its competitors’ data and ultimately push up healthcare costs.
UnitedHealth announced the all-cash deal in January 2021, saying it would help streamline administrative and payment processes.
Judge Carl Nichols said in a brief order on Monday that he would deny the government’s request to stop the deal, and ordered the companies to go forward with an asset sale that they had proposed.