Aetna’s stock surges on report of CVS deal talks
OMAHA, Neb. — Aetna’s stock has surged after a news report said CVS Health is in talks to buy the insurer a deal that could be worth more than $60 billion.
The Wall Street Journal reported on the deal talks Thursday. The newspaper cited people familiar with the matter and said CVS might pay more than $200 a share for the nation’s third-largest health insurer.
FOX61 reached out Aetna’s spokesman T.J. Crawford who said “we don’t comment on rumors or speculation.”
Aetna’s stock jumped $18.48, or 11 percent, to close Thursday at $180.48.
CVS Health is the nation’s second largest drugstore chain and also processes more than a billion prescriptions annually as a pharmacy benefits manager. Aetna insures more than $22 million people.
CVS Health Corp. is based in Woonsocket, Rhode Island. Aetna Inc. is based in Hartford, Connecticut.
In June, Aetna announced they will be moving its headquarters to New York City beginning in late 2018.
Aetna said the decision is a meaningful investment in their future and a key step in evolving from an insurer to a health company focused on consumers and their communities.