please help me complete the questions on the following attached article. Thank you.

CVS Health Corp. is in talks to buy Aetna Inc. for more than $66 billion as the drugstore giant scrambles to fortify itself against looming competition from Amazon.com Inc. amid a continuing reordering of the health-care industry (WSJ, October 27, 2017).

Questions:

	1. How much has CVS proposed to pay for Aetna?
	2. Why might the two firms be worth more if combined? Why might they be worth less?
	3. Why do you think shares of CVS and other pharmacy chains tumbled after the St. Louis Post-Dispatch reported Amazon had received approval for a wholesale pharmacy licenses in several states?
	4. How did the shares of CVS and Aetna react when The Wall Street Journal reported on a possible deal between the firms? How would you explain these reactions?

CVS Health Corp. CVS 2.81% A is in talks to buy Aetna Inc. AET 218% A for more than $66 billion as the drugstore giant scrambles to fortify itself against looming competition from Amazon.com Inc. AMZN 0.19% A amid a continuing reordering of the health-care industry CVS has made a proposal to buy the health insurer for more than $200 per share, people familiar with the matter said. The talks may not lead to a deal, but in a sign of their seriousness, the companies' respective chief executives- Larry Merlo at CVS and Mark Bertolini at Aetna-have met multiple times over a period of roughly six months, one of the people said. With Aetna, CVS could lock in a huge number of members for its pharmacy-benefit management, or PBM, arm, as well as customers for its drugstores. That could bolster its leverage in negotiations with drugmakers, while its oversight of health insurance could improve its ability to strike new deals that tie drug prices to patient outcomes. A deal for Aetna would also advance efforts CVS has been making to move further into health care, with services including urgent-care clinics, and could enable it to pitch a unified, seamless benefits offering to clients such as big employers. The combined behemoth would also have a large and diversified store of health data, an important asset in today's competitive environment. Expectations that Amazon will enter the pharmacy business helped spur CVS's move on Aetna, according to another person familiar with the matter. An acquisition of a major insurer was among roughly a dozen strategies CVS management recently presented to directors, the person said. The urgency of the threat from Amazon was underscored Thursday when it surfaced that RELATED A Force Behind the Aetna Bid: Amazon the online juggernaut receiv . Heard on the Street: Drug Prices Drive wholesale pharmacy licenses in several states. CVS, Aetna MoneyBeat: CVS Health's Rollercoaster Shares of CVS and other pharmacy chains Afternoon tumbled after the St. Louis Post-Dispatch reported on the approvals. CVS stock had been down by about 5% before it rallied when The Wall Street Journal reported on a possible deal with Aetna. The shares closed at $73.31, down Pharmacy Shares Tumble On Report Amazon May Muscle In 2.9%. CVS Health Corp. CVS 2.81% A is in talks to buy Aetna Inc. AET 218% A for more than $66 billion as the drugstore giant scrambles to fortify itself against looming competition from Amazon.com Inc. AMZN 0.19% A amid a continuing reordering of the health-care industry CVS has made a proposal to buy the health insurer for more than $200 per share, people familiar with the matter said. The talks may not lead to a deal, but in a sign of their seriousness, the companies' respective chief executives- Larry Merlo at CVS and Mark Bertolini at Aetna-have met multiple times over a period of roughly six months, one of the people said. With Aetna, CVS could lock in a huge number of members for its pharmacy-benefit management, or PBM, arm, as well as customers for its drugstores. That could bolster its leverage in negotiations with drugmakers, while its oversight of health insurance could improve its ability to strike new deals that tie drug prices to patient outcomes. A deal for Aetna would also advance efforts CVS has been making to move further into health care, with services including urgent-care clinics, and could enable it to pitch a unified, seamless benefits offering to clients such as big employers. The combined behemoth would also have a large and diversified store of health data, an important asset in today's competitive environment. Expectations that Amazon will enter the pharmacy business helped spur CVS's move on Aetna, according to another person familiar with the matter. An acquisition of a major insurer was among roughly a dozen strategies CVS management recently presented to directors, the person said. The urgency of the threat from Amazon was underscored Thursday when it surfaced that RELATED A Force Behind the Aetna Bid: Amazon the online juggernaut receiv . Heard on the Street: Drug Prices Drive wholesale pharmacy licenses in several states. CVS, Aetna MoneyBeat: CVS Health's Rollercoaster Shares of CVS and other pharmacy chains Afternoon tumbled after the St. Louis Post-Dispatch reported on the approvals. CVS stock had been down by about 5% before it rallied when The Wall Street Journal reported on a possible deal with Aetna. The shares closed at $73.31, down Pharmacy Shares Tumble On Report Amazon May Muscle In 2.9%