Aetna Buying Coventry

One of the largest insurance companies in the US is buying out another of it's smaller competitors.

This time Aetna is paying a total of $7.3 billion dollars to buyout Coventry.

Part of that figure is a twenty percent premium on Coventry's stocks.

Payment is being made with a combination of cash and Aetna's own stocks.

Coventry currently insures around 1.5 million people.

News of the buyout raised the worth of both companies' stocks.