Aetna Gains on Report That CVS Deal Price Could Top $70 Billion

Wall Street Sees CVS, Aetna Deal as Defensive Play

Aetna Inc. gained after a report that CVS Health Corp. may purchase the health insurer for more than $70 billion in coming weeks.

The report by Reuters said the transaction would likely value Aetna at well more than $200 a share and include cash and CVS stock. The deal could be reached as early as December, the report said. A report last week from the Wall Street Journal said that a deal would be worth more than $66 billion. 

A representative of Aetna declined to comment. A representative for CVS didn’t immediately respond to a request for comment.

Aetna advanced 3.9 percent to $179.03 at 3:35 p.m. in New York. CVS slipped 0.6 percent to $68.96.

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