CVS to buy medical insurer Aetna for $69 billion

U.S. drugstore chain operator CVS Health Corp, seeking to tackle soaring healthcare spending through lower-cost medical services in pharmacies, is set to acquire U.S. health insurer Aetna Inc for $69 billion.

The deal was finalized and out in the media on December 10, 2017.

This year’s largest corporate acquisition will combine one of the nation’s largest pharmacy benefits managers (PBMs) and pharmacy operators with one of its oldest health insurers, whose national business ranges from employer healthcare to government plans.

Aetna’s $37 billion plan to acquire smaller U.S. health insurance peer Humana Inc was barred in January, 2017 by a U.S. federal judge over antitrust concerns, after which the deal came in. A proposed combination of peers Anthem Inc and Cigna Corp was also shot down.

The companies said that Aetna shareholders stand to receive $207 per share in the deal with CVS. The consideration comprises $145 per share in cash and 0.8378 CVS shares for each Aetna share.