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Report: CVS nears deal to buy Aetna

Retail pharmacy chain CVS Health Corp. could announce a deal, worth about $66 billion, to buy health insurer Aetna Inc. by Dec. 4, The Wall Street Journal reported Nov. 30.

Citing unnamed sources, the Journal reported that the companies have made progress toward reaching a deal that would value Aetna at between $200 and $205 per share. That offer would consist primarily of cash, the sources told the Journal, though the health insurer has asked for more of the deal to be financed with cash.

Both CVS and Aetna declined to comment on the report.

Shares of CVS were up 2.7% at $75.40 in late morning trading Nov. 30, while Aetna's stock rose 0.7% to $180.76 per share.

Since late October, multiple media reports have suggested that the two companies have been mulling a deal. If one materializes, it would put a medical care provider, a chain of pharmacies and a pharmacy benefit manager under one roof.