(Bloomberg) -- 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.
To contact the reporters on this story: Zachary Tracer in New York at ztracer1@bloomberg.net, Robert Langreth in New York at rlangreth@bloomberg.net.
To contact the editors responsible for this story: Drew Armstrong at darmstrong17@bloomberg.net, Timothy Annett
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