Davis Polk Advises Aetna In $7.3B Coventry Acquisition

Law360, New York (August 20, 2012, 1:40 PM EDT) -- Aetna Inc. is picking up health care and insurance management company Coventry Health Care Inc. in a deal worth $7.3 billion, which will significantly boost its footprint in several market sectors, Aetna announced Monday.

Inking a definitive agreement, Aetna will be picking up an unspecified amount of debt and has also offered to pay Coventry stockholders $42.08 per share via a cash-and-stock deal of $27.30 in cash and 0.38 Aetna common shares for each share of Coventry stock, the companies said.

Along with cash on hand,...
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