CVS to purchase health insurance provider Aetna

CVS to purchase health insurance provider Aetna

- in US
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Aetna’s board of directors approved on Sunday the U.S. health insurer’s sale to drugstore chain operator CVS Health Corp for approximately $207 per share in cash and stock, according to people familiar with the matter.

The $69 billion deal will be this year’s largest corporate acquisition. It will combine one of the nation’s largest pharmacy benefits managers (PBMs) and pharmacy operators with one of its oldest health insurers, whose far-reaching business ranges from employer healthcare to government plans nationwide.

According to the agreed terms, Aetna shareholders stand to receive $145 per share in cash and 0.8378 CVS Health shares for each Aetna share, the sources said. The companies will announce the deal later on Sunday, the four sources added.




Image:  A customer waits at the counter of a CVS Pharmacy store in Pasadena

A customer waits at the counter of a CVS Pharmacy store in Pasadena on May 2, 2016.