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CVS Gets Close to Buying Aetna as Amazon Threat Looms

November 30, 2017, 6:43 PM UTC

CVS Health (CVS), which operates the massive Caremark pharmacy benefits manager as well as the CVS drugstore chain, is getting close to acquiring Aetna (AET) in a deal for more than $66 billion in cash and stock.

The deal could be announced as early as Monday, the Wall Street Journal reported. Negotiations are underway and will likely be valued at between $200 and $205 per Aetna share and be comprised mainly of cash, the WSJ reported.

If the CVS Health-Aetna deal does happen, it will result in a bigger company that would be involved in just about every aspect of the health care industry, including health insurance. CVS has a chain of more than 9,700 retail locations and owns a pharmacy benefits manager with nearly 90 million plan members.

It could also help CVS Health maintain its dominance as Amazon considers diving into the pharmacy business.

In February, Aetna and Humana said that they would end their $34 billion merger agreement after a U.S. federal court ruled against the deal, saying it would stifle competition in the Medicare Advantage program.