CVS Health is in Talks to Buy Aetna – Wall Street Journal

Pedestrians walk past a CVS Health Corp. store in Chicago.
Photo:
Christopher Dilts/Bloomberg News
Photo:
Christopher Dilts/Bloomberg News
By
Dana Mattioli
-
Dana MattioliThe Wall Street Journal
- Biography
- @DanaMattioli
- dana.mattioli@wsj.com
CVS Health Corp.
CVS -2.94%
is in talks to buy
Aetna Inc.,
AET 11.54%
according to people familiar with the matter, in a deal that could value the health insurer at upward of $66 billion.
CVS Health has made a proposal to buy Aetna for more than $200 per share, one of the people said. On Thursday afternoon, before The Wall Street Journal reported news of the talks, shares of Aetna were trading at $160.62 each.
Aetna shares initially shot up more than 10% on the report, giving it a market value of some $58 billion.
In 2015, Aetna agreed to buy rival insurer Humana Inc. for $34 billion, but the deal fell apart amid regulatory opposition.
Write to Dana Mattioli at dana.mattioli@wsj.com
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