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CVS Health plans to buy health insurer Aetna for $69bn, giving US-targeted M&A a giant boost. However, the second largest M&A deal announced globally this year may face complications. Our Head of M&A Research, Chunshek Chan, looks at how this vertical merger could play out.

Transaction details

On December 3, CVS Health has agreed to acquire Aetna for $68.9bn. Under the terms of the agreement, the pharmacy will pay $145 in cash and 0.8378 CVS shares per Aetna share. Post transaction, the acquirer’s shareholders will own 78% of the combined company and Aetna shareholders will own the remaining 22%. The deal is subject for approval by shareholders of both companies and regulatory agencies.


Related: CNBC – The outlook for M&A in the United States

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