AETNA TALKS COOL OFF
Possible move to Hub slowed by merger block
Talks between the Connecticut-based Aetna and Bay State officials about a potential move to Boston have slowed in recent months as the insurance giant worked through a merger and a subsequent court ruling blocking it.
Massachusetts officials have long expressed interest in luring Aetna to the state after General Electric decamped last year from Connecticut, bringing with it to Boston hundreds of well-paying jobs and plans to build a new Fort Point headquarters.
Chatter has only grown louder in recent weeks amid reports that the Hartford-based company has been eyeing Boston real estate, and, according to a Hartford Courant report, has been conducting talks stretching back months with members of Gov. Charlie Baker’s administration.
But after the health insurer announced a $37 billion acquisition of Humana Inc. — and a subsequent federal court blocked the merger last month — contact with the state has ebbed considerably, according to a source with knowledge of discussions. Noticeably absent from reports, too, have been links to City Hall, which worked hand-in-hand with the state in convincing GE to relocate to Boston last year.
When officials pitched General Electric on Boston, it included a meeting at a North End restaurant where others outside state and local government, such as the head of the Associated Industries of Massachusetts, were at the table.
But the business group has “not been involved in any discussion of Aetna,” said Christopher Geehern, an AIM spokesman.
“I think in general terms, Massachusetts has a good story to tell,” Geehern said. “In general, the kind of things that businesses look for — fiscal stability, a reasonable tax policy and cooperation within the various branches of government — I think are something that Massachusetts has now.”
T.J. Crawford, an Aetna spokesman, called the reports about a possible move “speculation.”
“We remain headquartered in Hartford, and we’re committed to our employees here, who continue to be an important part of our future,” he said in an email.
A Baker administration spokesman said the state doesn’t comment on potential business development deals.
Aetna already has a small presence in Massachusetts, where Gary Loveman, the former Caesars Entertainment chief executive who’s now at the insurer, has office space in Wellesley. The company, which has 6,000 workers in Connecticut, had joined General Electric back in 2015 in criticizing that state’s tax policy, perking ears of officials there.