On Sunday, December 3, CVS announced it had reached an agreement with Aetna for approximately US$69 billion.
The deal is one the year’s largest so far. It comes as insurers are under pressure to lower medical costs and retailers are under attack from new competitors, including an increasingly powerful Amazon. It creates the first health-care triple threat, combining CVS’s pharmacy and pharmacy benefit manager platform with Aetna’s insurance business.
According to the agreed terms, Aetna stockholders will receive US$207 per share, US$145 in cash and US$62 in stock, according to the source. An earlier report by Reuters, which first reported the terms, said Aetna’s board had already approved the deal.
Full Content: Washington Post