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.



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