The companies are working on sealing a deal north of $70 billion as early as December, Reuters reported. While the exact price has not yet been determined, a transaction will probably value Aetna at more than $200 a share, the report added.
An Aetna spokesman and a CVS spokesman both said their respective companies do not comment on rumors or speculation.
The Wall Street Journal reported on Oct. 26 that CVS has been in talks over the past six months to buy Aetna for more than $200 a share.
Hartford, Conn.-based Aetna on Oct. 31 reported third-quarter adjusted earnings per share of $2.45, up 18% from the same period last year. Revenue was $14.99 billion, down 5% year-over-year.
Analysts had forecast, on average, adjusted EPS of $2.08 on revenue of $15.12 billion, according to Bloomberg.
CVS is slated to report third-quarter numbers on Nov. 6. Analysts expect, on average, adjusted EPS of $1.49 on revenue of $46.17 billion.
Shares of Aetna closed at $176.99 on Friday, up 2.7%. CVS shares finished the trading session at $69.25, down 0.2%.
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