A hot deal may be brewing.
Sources told the Wall Street Journal that CVS will offer $200 per share for the company which has an estimated value of $53 billion.
Aetna shares closed the day up 12.72% to $180.48. If the acquisition price is accurate, that would mean CVS' offer represents a 20% premium over the stock's previous closing price.
Shares of fellow insurer Molina Healthcare Inc. (MOH) - Get Report spiked shortly after the news broke but still closed the day on a down note, falling 1.65%. Tenet Healthcare (THC) - Get Report shares closed the day down double digits on reports that the company scrapped plans for its own sale.
CVS is already currently in the midst of a 12-year year deal signed in 2010 to jointly provide pharmacy benefits management services. CVS manages purchasing, inventory management and prescription fulfillment for Aetna's mail-order and specialty pharmacy operations, per the terms of the agreement.
CVS shares also got a bump after the news broke close to the closing bell, but the stock still fell nearly 3% Thursday.
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