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CVS pens $69B deal for Aetna

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Pharmacy chain CVS Health announced plans to acquire Aetna for $69 billion.

The announcement made official several reports that CVS was closing in on a deal to purchase the health insurer.

“This combination brings together the expertise of two great companies to remake the consumer health care experience,” CVS CEO Larry Merlo said. “With the analytics of Aetna and CVS Health’s human touch, we will create a health care platform built around individuals.”

Aetna shareholders would receive roughly $207 per share, of which $145 per share would be in cash. They'd also receive CVS shares.

Read more from Yahoo Finance.

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