CVS to buy medical insurer Aetna for $69 billion
CVS
San Francisco - Egypt Today
US drugstore chain CVS Health announced Sunday it would buy medical insurer Aetna for about $69 billion, in a move that would create a new giant in the healthcare sector.
The deal would see Aetna shareholders receive $207 per share, with $145 in cash and the rest in newly issued stock. The overall cost of the transaction rises to $77 billion with the assumption of Aetna's debt.
"The transaction is expected to close in the second half of 2018," CVS said in a statement, adding: "It is subject to approval by CVS Health and Aetna shareholders, regulatory approvals and other customary closing conditions."
Talks between the two have been reported since late October, and are believed to have been driven by rumors of online shopping behemoth Amazon's entry into the drugstore market.
- Monday ,04 December GMT 06:25 2017 US pharmacy chain CVS announces $69 billion purchase of insurer Aetna
GMT 06:25 2017 Monday ,04 December
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