Business

CVS and Aetna stocks slide on news of merger deal

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CVS Health Corp. shares dropped Monday as investors expressed uncertainty about the pharmacy giant’s $69-billion deal to acquire health insurer Aetna Inc. CVS stock was down 4.9% at $71.45 around 9:45 a.m. PST.

Aetna Inc.'s board of directors approved on Sunday the U.S. health insurer's sale to drugstore chain operator CVS Health Corp for approximately $207 per share in cash and stock.

Source: NBC

CVS Health Corp. plans to buy Aetna Inc. for $69 billion in a blockbuster deal that would further consolidate the U.S. healthcare industry by merging the nation’s largest pharmacy chain with a major healthcare insurer, the companies announced Sunday.

Meanwhile, shares of Aetna were down 0.5% at $180.40

All Sources: Los Angeles Times Los Angeles Times NBC

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