CVS Health Closes In on Deal to Buy Aetna
November 30 2017 - 11:10AM
Dow Jones News
By Dana Mattioli and Anna Wilde Mathews
CVS Health Corp. is moving closer to a deal to buy Aetna Inc.
for more than $66 billion in cash and stock. The deal, which could
be announced by Monday, would create a health-care-industry
behemoth selling everything from drugs to insurance.
The companies are in advanced stages of negotiating a deal,
according to people familiar with the matter. It would likely be
valued at between $200 and $205 per Aetna share and be comprised
mainly of cash, some of the people said.
It is still possible the timing could slip or that the companies
will fail to reach a deal.
Aetna shares closed Wednesday at $179.57. The stock was trading
at about $160 when The Wall Street Journal reported on the
possibility of a deal with CVS on Oct. 26, meaning that a price of
over $200 a share would represent a premium of more than 25%.
Sharon Terlep contributed to this article
Write to Dana Mattioli at dana.mattioli@wsj.com and Anna Wilde
Mathews at anna.mathews@wsj.com
(END) Dow Jones Newswires
November 30, 2017 10:55 ET (15:55 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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