WOONSOCKET – CVS Health Corp.’s preliminary prospectus for shareholders filed with the Securities and Exchange Commission Friday afternoon values its merger with Aetna Inc. at $69.7 billion, but the current share price of Aetna stock indicates skepticism in the future of the deal.
As of Friday’s market closing, CVS stood at $82.01 per share with 1.01 billion shares outstanding. Aetna stood at 193.10 per share with 326.17 million shares outstanding.
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According to the prospectus, if the merger is completed, Aetna shareholders would receive $145 in cash and 0.8378 of a share of CVS Health common stock for each Aetna common share, or $213.71 per share, $20.61 per share more than Aetna’s market value Friday.
The market value of the deal, if traded on Friday’s figures, would be about $6.7 billion less than the prospectus estimates.
Rob Borkowski is a PBN staff writer.
