CVS to purchase Aetna for $69 billion

CVS has decided to buy Aetna for $69 billion in cash and stock, based on the Wall Street Journal which initially broke this news in October.

Aetna’s board of company directors met Sunday and it is likely to announce the offer later today.

The offer portends the potential of more insurers scooping up lucrative pharmacy services, with a few experts predicting that UnitedHealth may be thinking about an identical venture.

Based on people acquainted with the Aetna/CVS deal, Aetna stockholders will be to receive $207 a share, $145 in cash and $62 available.

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