via Wall Street Journal
Aetna Inc. said Friday that it had agreed to buy Humana Inc. for $34.1 billion in cash and stock, following weeks of frenzied merger talks among the largest health insurers.
Under the deal, Aetna would pay about $230 a share for Humana, a premium of 23% from Thursday’s close and 29% from the company’s share price before The Wall Street Journal in late May first reportedHumana was exploring a sale. Including debt, the companies said, the deal is valued the deal at $37 billion.
A takeover approach for Humana earlier this year thrust the biggest health-insurance companies into a five-way merger frenzy.Cigna Corp. and Aetna were vying to buy Humana, while fielding takeover approaches of their own. Cigna andAnthem Inc. haverekindled talks after Cigna earlier rejected a public takeover bid of $184 a share from Anthem, its larger rival, andUnitedHealth Group Inc.earlier approached Aetna.
Meantime, Medicaid-focused Centene Corp. said Thursday that itagreed to buy Health Net Inc., in a deal worth about $6.3 billion..
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