NEW YORK: Insurer Aetna Inc has signed a deal to buy rival Coventry Health Care Inc for $5.6 billion in cash and stock, the latest in a string of multi-billion-dollar acquisitions in the U.S. healthcare sector.
Aetna will pay $27.30 in cash and 0.3885 shares for each Coventry share held, a total value of $42.08 per share, Coventry and Aetna said in a joint statement.
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