Aetna Enters $3.3 Billion Accelerated Share Buyback Program

Aetna Inc. said Wednesday it has entered an accelerated share buyback with two dealers to repurchase shares worth $3.3 billion. The health insurer said it will execute the deal under its existing authorization and fund it with available cash. The company will pay $1.65 billion to each dealer on Wednesday and will receive an initial delivery of 10.4 million shares of its common stock. Shares were not yet active in premarket trade, but have gained 18% in the last 12 months, while the S&P 500 has gained 21.6%.