3 Reasons Why Aetna Isn't Up 14% Today
It turns out that the rumors were true.
Investors learned on Monday that Aetna (NYSE: AET) has officially accepted a takeover bid from pharmacy giant CVS Health (NYSE: CVS). This $69 billion deal values Aetna's stock at $207 per share, which represents a 14% premium to Friday's closing price.
Given the news, Aetna's stock should be soaring today. However, shares are actually down about 1% as on type this on Monday morning. That suggests that Wall Street doesn't believe that this deal will ever go through.
Source: Fool.com