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Shareholders approve CVS-Aetna merger

By Kimberly Leonard
Published March 13, 2018 3:48pm ET
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Shareholders approve CVS-Aetna merger
Late last year, CVS Health announced a roughly $69 billion deal to buy another insurer, Aetna. Those companies plan to convert drugstores into health care hotspots that people can turn to for a variety of needs in between doctor visits.

Shareholders on Tuesday overwhelmingly approved a $69 billion deal for CVS Health to purchase health insurer Aetna, in a move that both companies hope will change the way healthcare is delivered.

The agreement was approved with roughly 97 percent of the votes cast. After the transaction, shareholders of Aetna will receive $145 in cash and 0.8378 of a CVS Health share for each Aetna share, valued at $207.94 during its closing price at the time of the agreed merger.

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Mergers and Acquisitions Retail