Shearman & Sterling is advising CVS on its $69 billion acquisition of Aetna. This industry-transforming transaction is expected to provide more integrated and efficient healthcare services for consumers and health professionals.
Under the terms of the agreement, Aetna shareholders will receive $207 per share, comprising $145 in cash and $62 in CVS stock. Including the assumption of Aetna's net debt, the total deal value of the deal is $77 billion. The deal is subject to CVS Health and Aetna shareholder approval, regulatory approvals and other customary closing conditions and is expected to close in the second half of 2018. Upon closing, CVS Health shareholders will own approximately 78 percent of the combined company and Aetna shareholders will own approximately 22 percent.
The Shearman & Sterling team below was supported by associates Daniel Yao (New York-Capital Markets), Jai Garg (New York-Compensation, Governance & ERISA), Magnus Wieslander (Toronto-Finance) and David Selesnick (New York-Litigation).