Report: To Protect a Client and Itself, CVS to Buy Aetna
Deal is worth $69B, says source
By Newser Editors and Wire Services
Posted Dec 3, 2017 4:40 PM CST
This May 15, 2017, file photo, shows a CVS pharmacy sign at a store in Hialeah, Fla. CVS will buy insurance giant Aetna in a roughly $69 billion deal that will help the drugstore chain provide more health care and keep a key client, according to a person with knowledge of the matter.   (AP Photo/Alan Diaz, File)
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(Newser) – CVS will buy insurance giant Aetna in a roughly $69 billion deal that will protect a key client—and possibly protect itself from Amazon—a person with knowledge of the matter said Sunday. CVS will pay about $207 in cash and stock for each share of Aetna, according to the person, who spoke on condition of anonymity because the deal has not been announced publicly. That represents a 29% premium to the price of Aetna shares on Oct. 25, the day before the Wall Street Journal first reported about the possibility of a deal. The mammoth acquisition pairs a company that runs more than 9,700 drugstores and 1,100 walk-in clinics with an insurer covering around 22 million people. CVS is also one of the nation's biggest pharmacy benefit managers, processing more than a billion prescriptions a year for insurance companies, including Aetna. How CVS could benefit:

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