Aetna Inc. agreed to acquire Humana Inc., the second-largest provider of private Medicare insurance, for about $37 billion in cash and stock, Bloomberg reported. The deal values the smaller company at about $230 per share, it said in a statement Friday. That price represents a 23% premium to Humana’s last close. The acquisition comes amid a period of consolidation in the industry, with all of the five biggest health insurers looking at deals. Humana’s 3.2 million Medicare Advantage members have made it a target, since more Americans are turning 65 and becoming eligible for the health program for the elderly and its private insurer-run version.
