October 26, 2017: 5:40 PM ET
CVS and Aetna are said to be weighing a massive tie-up.
The Wall Street
Journal reported Thursday that CVS
Health (CVS) is in talks to acquire the health
insurer for $66 billion.
The story, which posted
just before the market close, caused Aetna (AET) shares to skyrocket as much as 12%.
Shares of CVS fell almost 3% after hours.
Both companies declined
to comment on market "rumors."
If the merger is
approved and goes through, it would reshape the health care industry. CVS
Health controls a massive drugstore chain and pharmacy benefits management
system, while Aetna is one of the nation's largest insurers.
But mergers involving
health insurance companies have run into roadblocks in the recent past. In
2015, Aetna and Humana announced a $34 billion merger, while Anthem agreed to
acquire Cigna for $54 billion. Both deals were called off in February after they were
targeted by the Justice Department over antitrust concerns and blocked by
federal judges.
CNNMoney (New York)First published October 26,
2017: 5:40 PM ET
http://money.cnn.com/2017/10/26/investing/aetna-cvs-merger/index.html
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