CVS makes more than $66 bn bid for health insurer Aetna

NEW YORK: US pharmacy operator CVS Health Corp has made an offer to acquire No 3 US 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. Aetna shares rose more than 11 per cent, or $18.48, to $178.60, while CVS shares fell 3 per cent, or $2.22, to $73.31, after the Wall Street Journal first reported on the talks earlier on Thursday. Healthcare consolidation has been a popular route for insurers and pharmacies, under pressure from the government and large corporations to lower soaring medical costs. — Reuters