CVS agrees to buy insurance giant Aetna


CVS has agreed to buy Aetna in a $69 billion deal, The New York Times reported.

>> Read more trending news

The deal would combine the drugstore chain with one of the United States’ largest health insurers.

Under the terms of the deal, CVS will pay about $207 a share, the Times reported, quoting an anonymous source. Roughly $145 a share of that would be in cash, with the remainder in newly issued CVS stock.

An announcement could come later Sunday, the Times reported.

The deal would transform CVS’ 9,700 pharmacy storefronts into community medical hubs for primary care and basic procedures, The Washington Post reported.

If approved, the merger would allow CVS to provide a broad range of health services to Aetna’s 22 million medical members at its nationwide network of pharmacies and walk-in clinics, the Post reported.

“I think it will create more consolidation among the insurers and retailers, blurring the lines,” Ana Gupte, an analyst at Leerink Partners, told the Post.


Reader Comments ...


Next Up in Local

Missing 15-year-old Kentucky girl found safe in Louisville, police say
Missing 15-year-old Kentucky girl found safe in Louisville, police say

A 15-year-old Kentucky girl who left school to leave with an unknown person has been found, WKYT reported Thursday. Amber Renae Wagers was found safe in Louisville, the Berea Police Department said in a Facebook post. Wagers, 15, walked out of Berea Community School around 10 a.m. Wednesday to leave with an unknown person, police said. Investigators...
James Shaw Jr. raises $170,000 for Waffle House shooting victims
James Shaw Jr. raises $170,000 for Waffle House shooting victims

James Shaw Jr., who disarmed a gunman who opened fire at a Waffle House in Tennessee on Sunday, has raised more than $170,000 in a fundraiser to help the victims’ families, CNN reported. Shaw, who wrestled a rifle away from the gunman and tossed it over the counter, launched a GoFundMe campaign that easily topped its $15,000 goal. Four...
Kim Jong Un steps over border, meets with South Korean leader Moon Jae-in
Kim Jong Un steps over border, meets with South Korean leader Moon Jae-in

In an electric moment, North Korean leader Kim Jong Un stepped over the heavily fortified demilitarized zone to shake hands with South Korean President Moon Jae-in, Reuters reported Friday. Smiling and holding hands, the Korean leaders met for the first summit between the two nations in more than a decade.  It’s the first time since...
Subway announces it will close 500 stores in US
Subway announces it will close 500 stores in US

Subway announced that it will be closing nearly 500 stores in the United States while adding more than 1,000 shops worldwide, WPVI reported Thursday. The chain, which got its start in August 1965 when founder Fred DeLuca opened a shop in Bridgeport, Connecticut, has nearly 27,000 stores in the United States and 44,000 worldwide. According...
Close to Home for April 28-29
Close to Home for April 28-29

Skip Wells SEMPER FIve K in Kennesaw Skip Wells SEMPER FIve K to celebrate the life of Lance Corporal Skip Wells, U.S. Marine Corps. 7:30 a.m. registration, 8 a.m. Saturday (rain or shine). $45. Kennesaw State University, The Perch in front of the Kennesaw greenway, Kennesaw. Wells, who would have turned 24 on April 29, was killed in a terrorist attack...
More Stories