Drugstore giant CVS will buy Aetna, one of the biggest U.S. health insurers, for about $69 billion — one of the largest M&A transactions of the year. One of the biggest drivers of the deal is Amazon, which has been rumored to be preparing for an entry into the U.S. pharmacy business. The merger could transform CVS’s 9,700 pharmacy storefronts into community medical hubs for primary care and basic procedures. [The New York Times]
Recode Daily: Drugstore chain CVS will buy health insurer Aetna; Disney is talking again about buying 21st Century Fox assets
Plus: Lyft wants all its corporate employees to experience life as a driver, meet the man who will take over for Meg Whitman, and a secret Nintendo bar in Japan.
Mandel Ngan / AFP / Getty Images
Disney is back in talks about buying some of 21st Century Fox’s assets, and Comcast is looking at the same stuff. The negotiations center on the 20th Century Fox movie and TV studio, international assets such as Fox’s 39 percent holding in U.K. satellite TV provider Sky PLC and India’s Star TV, along with some U.S. cable networks; Fox News and the Fox broadcast network are not included. [The Wall Street Journal]
Venture capitalist Fred Wilson warns of a slump in early-stage investing, which he says has slowed down substantially in the past few years. There are going to be fewer deals, Wilson says, but those are going to be bigger deals. [Fred Wilson / A VC]
Meet the man who is about to take the reins as CEO of HPE when Meg Whitman resigns in January. Antonio Neri, who has been with HP for 22 years, brings tech chops to a company in need of hit products. [Rachael King / The Wall Street Journal]
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This article originally appeared on Recode.net.
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