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.
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.
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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.
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(END) Dow Jones Newswires
October 26, 2017 16:20 ET (20:20 GMT)