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takyon writes:

CVS, one of the largest pharmacies in the U.S., has made an offer to acquire the health insurer Aetna Inc.:

U.S. pharmacy operator CVS Health Corp has made an offer to acquire No. 3 U.S. health insurer Aetna Inc for more than $200 per share, or over $66 billion, people familiar with the matter said on Thursday. A deal would merge one of the nation's largest pharmacy benefits managers and pharmacy operators with one of its oldest health insurers, whose far-reaching business ranges from employer healthcare to government plans nationwide.

[...] A tie-up with Aetna could give CVS more leverage in its price negotiations with drug makers. But it would also subject it to more antitrust scrutiny. The deal could also help counter pressure on CVS's stock following speculation that Amazon.com Inc is preparing to enter the drug prescription market, using its vast e-commerce platform to take market share from traditional pharmacies.

[...] The sources did not specify how much of CVS' bid is cash versus stock, but given CVS's and Aetna's market capitalizations of $77 billion and $54 billion, respectively, a substantial stock component is likely in any deal.

• A CVS-Aetna Deal Is Logical But Also a Stretch
• Wall Street Sees a CVS, Aetna Deal as a Revolutionary Defense

Also at NYT.

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