CVS, Aetna spike on report that they're very close to finalizing a deal
CVS and Aetna shares jumped in trading on Thursday after Dow Jones reported that both companies were nearing a deal.
The retail pharmacy giant was reported in late October to be in talks to buy the health-insurance giant in a deal worth about $66 billion.
According to the report, CVS is nearing a majority cash purchase of Aetna of between $200 and $205 a share.
CVS shares gained as much as 5%, while Aetna rose 2%.
Aetna previously agreed to buy rival insurer Humana for $34 billion, but that deal was blocked by the Department of Justice. A judge ruled in favor of the DOJ in January, saying that the combination of the two companies would have been anticompetitive.
CVS's move into healthcare would be a step towards fending off competition from Amazon, which has been speculated to be interested in the industry.
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