Aetna (NYSE:AET) announced today it has entered into a definitive agreement to acquire Genworth Financial’s (NYSE:GNW) Medicare Supplement business and related blocks of in-force business. Genworth is a provider of Medicare Supplement coverage. The business has over 145000 members and will “substantially enhance Aetna’s presence and capabilities as a provider of Medicare Supplement insurance.” Aetna will acquire 100% of Continental Life Insurance Company, located in Brentwood, Tennessee. The total purchase price is about 0 million. Aetna has a potential upside of 11.8% based on a current price of .86 and an average consensus analyst price target of .93.
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