CVS Health proposes to buy Aetna for $66B: 4 things to know

Pharmacy giant CVS Health is in talks to purchase Aetna, sources familiar with the matter told The Wall Street Journal.

Here are four things to know.

1. CVS Health made an offer to buy Aetna for more than $200 per share, or about $66 billion.

2. Negotiations began recently and took place between CVS Health CEO Larry Merlo and Aetna CEO Mark Bertolini, Reuters reports. The deal is not expected for a few weeks, however publication of the discussion could expedite the process, the sources said. Both companies declined Reuters request for comment.

3. Aetna's shares spiked more than 12 percent following The Wall Street Journal's report. The insurer's stocks climbed as high as $180.70 per share, up from $160.65 per share, as of 3:20 p.m. CT Thursday. CVS Health's shares dipped roughly 3 percent.

4. The deal follows Aetna's failed merger with Humana in February, under which Aetna was required to pay Humana a $1 billion breakup fee.

This article was updated Oct. 27 at 8:22 a.m. CT.

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