Report: CVS in talks to buy Aetna for $66 billion

A CVS pharmacy.
(Image credit: Tim Boyle/Getty Images)

CVS has made a $66 billion bid for Aetna, America's third-largest health insurer, several people familiar with the matter told Reuters on Thursday.

After The Wall Street Journal first reported on the bid Thursday, shares of Aetna rose more than 11 percent while CVS shares went down 3 percent. Should CVS acquire Aetna, it would potentially make it easier for CVS to negotiate prices with drugmakers, and could also give CVS a boost as speculation grows over Amazon entering the drug prescription market, Reuters reports. CVS made its bid in early October, but the company and Aetna have been in talks about a deal for several months, several people told Reuters, and they're not expected to reach an agreement for several weeks.

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