Economy

CVS makes bid for Aetna

CVS makes bid for Aetna”

CVS Health controls a massive drugstore chain and pharmacy benefits management system, while Aetna is one of the nation's largest insurers.

USA pharmacy operator CVS Health Corp (CVS.N) has made an offer to acquire No. 3 US health insurer Aetna Inc (AET.N) for more than $200 per share, or over $66 billion, a person familiar with the matter said on Thursday.

CVS Health is reportedly in talks to buy Aetna in a deal that would make major waves in the healthcare industry. The deal would be worth about $66 billion, according to the report.

When contacted by FOX Business, an Aetna spokesperson declined to chime in on the reports, saying the company doesn't "comment on rumors or speculation".

Aetna shares initially spiked more than 10 percent after news of the possible deal broke, the newspaper reported. In 2015, Aetna and Humana announced a $34 billion merger, while Anthem agreed to acquire Cigna for $54 billion.

Aetna's stock jumped $18.48, or 11 percent, to close Thursday at $180.48. Shares of CVS fell nearly 3% after hours.

This is not the first blockbuster deal that Aetna has tried to execute.



Like this

Latest


27 October 2017
Amazon.com, Inc. (AMZN) Q3 Earnings Beat Estimates, Outlook In-Line
Northstar Group Inc increased Schwab Strategic Tr (SCHD) stake by 8,366 shares to 91,579 valued at $4.13 million in 2017Q2. Following the transaction, the vice president now owns 6,533 shares in the company, valued at approximately $6,444,935.16.

27 October 2017
Chilly start to the day with highs still below normal
If you are planning on going up to Lexington for the Kentucky/Tennessee game, conditions look wet and cold for tailgating. The bulk of the rain will be gone by then, but we will still have a few lingering showers.

27 October 2017
FEC approves draft of 2018 budget
The minister said President Buhari will disclose details of the document when the National Assembly is ready to receive the draft.

27 October 2017
Andrus Nominated For Gold Glove Award
The Phillies have not had a Gold Glove victor since 2012 when shortstop Jimmy Rollins captured the fourth of his career. Ramirez played 88 games at third, before switching to second to cover for the injured Jason Kipnis.

27 October 2017
Sofia Richie banned from seeing Scott Disick's kids
The collection is said to be filled with sequined dresses, faux fur jackets, and sparkly biker shorts. She wore a sparkling black dress that featured a low neckline and spaghetti straps to the event.

27 October 2017
Western Digital Corporation (WDC) Stock Rating Upgraded by Zacks Investment Research
The data storage provider reported $2.93 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $2.51 by $0.42. Analyst Recommendations are opinions given by analysts to their clients about whether a given stock is worth buying or not.

27 October 2017
Georgia Bulldogs: Playoff Hopes Starting to Look Like Reality
Now comes the true freshman's first time playing in Jacksonville against Florida on Saturday. "I think this kid has grown". The Gators have done what it takes to beat Georgia the last three years. "It's a goal of mine to just keep winning".

26 October 2017
American Vandal, Netflix's best new series, renewed for second season
The streaming giant has renewed satire series American Vandal for a second season, The Hollywood Reporter has learned. American Vandal is produced for Netflix by CBS Television Studios, Funny Or Die and 3Arts.

26 October 2017
The Brown Advisory Inc. Boosts Stake in Xcel Energy Inc. (XEL)
Taking a quick look at analyst opinions, we can see that the current average broker recommendation on shares of Xcel Energy Inc . Mizuho restated a "hold" rating and issued a $46.00 price target on shares of Xcel Energy in a report on Friday, September 29th.

26 October 2017
'Veronica Mars' revival is "going to happen", according to Kristen Bell
The film was funded by a Kickstarter campaign that Bell and Thomas launched, which gained more than $5.7 million in total. She has appeared on Broadway in THE CRUCIBLE and THE ADVENTURES OF TOM SAWYER, and now stars in NBC's THE GOOD PLACE .



Recommended