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.
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.
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.
A merger of Aetna and CVS could mean a race toward greater consolidation in the industry, with as-yet-unknown impacts on access and cost of care.
Meanwhile, shares of Aetna were down 0.5% at $180.40
All Sources: NBC Los Angeles Times Los Angeles Times NBC