CVS Health is in Talks to Buy Aetna

By Dana Mattioli Features Dow Jones Newswires

CVS Health Corp. is in talks to buy Aetna Inc., according to people familiar with the matter, in a deal that could value the health insurer at upward of $66 billion.

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CVS Health has made a proposal to buy Aetna for more than $200 per share, one of the people said. On Thursday afternoon, before The Wall Street Journal reported news of the talks, shares of Aetna were trading at $160.62 each.

Aetna shares initially shot up more than 10% on the report, giving it a market value of some $58 billion.

In 2015, Aetna agreed to buy rival insurer Humana Inc. for $34 billion, but the deal fell apart amid regulatory opposition.

Write to Dana Mattioli at dana.mattioli@wsj.com

(END) Dow Jones Newswires

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October 26, 2017 16:20 ET (20:20 GMT)