Aetna Inc. will acquire Bethesda-based Coventry Health Care Inc. in a $5.7 billion deal in cash and stock, a move that will make Aetna one of the largest providers of government-financed health care, The Wall Street Journal reported.
Aetna is paying $42.08 per share for Convetry, a 20.4 percent premium to Coventry's shares as of Friday's close. The boards of both companies have approved the deal, which is expected to be announced on Monday.