Here's Why CVS Health Is Tumbling 6.8% Today
Shares in CVS Health (NYSE: CVS) were down 6.8% at 3:45 p.m. EDT, after The Wall Street Journal broke a story that the company may be offering to buy Aetna (NYSE: AET) for $66 billion or more.
Razor-thin margin has been forcing pharmacies to consolidate to improve their buying power for years. However, regulators put the kibosh on that strategy earlier this year, when they rejected Walgreens Boots Alliance's bid to buy Rite Aid lock, stock, and barrel.
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Source: Fool.com