CVS Health is moving closer to an agreement to buy Aetna for more than $66 billion in cash and stock. The deal, which could be announced by Monday, would create a health-care behemoth selling products from drugs to insurance.

The companies are in advanced stages of negotiating an agreement, according to people familiar with the matter. The deal would likely be valued at between $200 and $205 per Aetna share and be comprised mainly of cash, some of the people said.

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