CONSOLIDATE

CVS to Buy Insurance Giant Aetna for $69 Billion

CVS is buying health insurance giant Aetna for around $69 billion, in a major move that consolidates the health care industry. As The New York Times notes, the drugstore chain’s decision to buy Aetna could be in response to Amazon seeking pharmacy licenses nationwide and potentially becoming a major competitor to CVS. The deal reportedly stipulates that CVS will pay around $207 a share, $145 of which will be in cash.