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CVS In Talks To Buy Aetna For Nearly $200 A Share

In a stunning scoop published minutes before the close, WSJ reports CVS Health is in talks to buy Aetna, a defensive acquisition that may help the company fend off Amazon if it moves into the pharmacy space.In a stunning scoop published minutes before the close, WSJ reports CVS Health is in talks to buy Aetna, a defensive acquisition that may help the company fend off Amazon if it moves into the pharmacy space.

Shortly before WSJ published its report, CVS and other pharmacy stocks tumbled to their lows of the day on reports Amazon has been quietly obtaining wholesale pharmacy licenses.  

Earlier this week, Aetna said it would sell its group life and disability business to The Hartford Group for $1.45 billion in cash. Aetna recently moved its headquarters from Hartford, Conn., where the company was founded more than 150 years ago, to New York City.

CNBC reports the offer could be nearly $200 dollars a share, vs. Aetna's market price of $178.60. Aetna has a $60 billion market capitalization. Aetna shares soare 9% on the news, while CVS shares pared their earlier drop, but moved lower again into the close. Managed-care stocks also jumped on the news.

This is a developing story. Check back for updates...