FX.co ★ CVS to buy Aetna insurer for $69 billion

US-based drugstore chain CVS announced it would buy medical insurer Aetna for $69 billion (51.1 billion pounds sterling).

CVS said the acquisition of Aetna has potential to create a new behemoth in the US healthcare sector.

In case of regulatory approvals, two giants will unite to change the healthcare industry for consumers.

CVS is ready to pay Aetna $207 per share, with $145 in cash and the rest in newly issued stock. The overall cost of the transaction totals $77 billion, including Aetna's debt.

The merger comes amid rising medical costs for many citizens.

Following the deal, the drugstore chain will turn its 10,000 stores in public medical centers with pharmacists, nurses and nutritionists.