From the Wall Street Journal’s Sharon Terlep and Anupreeta Das:
Health-care giant Aetna Inc. has struck a deal to buy Coventry Health Care Inc. for $5.7 billion in cash and stock, a move that will make Aetna one of the largest providers of government-financed health care, people familiar with the matter said.
Aetna, based in Hartford, Conn., is paying $42.08 a share for Coventry, which is a 20.4% premium to Coventry’s shares as of Friday’s close, according to the people. The mix is 65% cash and 35% stock, the people said.
Read more at WSJ.com.
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