Aetna reaches deal to buy Humana for $37 billion

Aetna reaches deal to buy Humana for $37 billion

LOUISVILLE, KY (WAVE) - Health insurer Aetna announced early Friday that it will buy Humana for $37 billion, according to CNBC and Bloomberg.

The deal would created the second-largest managed care company.

Aetna, based in Hartford, CT, says it will keep Humana's Louisville headquarters as the base for its Medicare, Medicaid and military Tricare businesses. Humana employs over 13,000 in Louisville.

CNBC says the deal has been unanimously approved by the board of directors of both companies.

According to the Associated Press, the purchase price includes a combination of cash and stock worth about $230 per share.

In a statement released by his office, Louisville Mayor Greg Fischer said, "My team and I have been in regular contact with company leaders to understand the terms of the merger and what it means for our city and state. Our goal is to keep all existing jobs in Louisville and grow even more. Louisville has a depth of human talent in this important business sector and we will demonstrate that depth to the new owners. We will be fighting to grow Humana-Aetna's presence in Louisville."

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