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A CVS drugstore and pharmacy in Philadelphia, Pennsylvania. Photo: Matt Rourke / AP

CVS Health, which has been in talks to buy the health insurance company Aetna, will make the purchase for $69 billion in cash and stock, the Wall Street Journal reports. The merger will bring together health insurance and pharmacy services in the same company.

Why it matters, per Axios' Bob Herman: CVS and Aetna, which already have a pharmacy contract together, join to create a behemoth health care company with roughly $240 billion in annual revenue and substantial bargaining power over hospitals, drug makers and employers. Only Walmart will be bigger than CVS in terms of annual revenue among U.S. companies. The deal also displaces UnitedHealth Group as the largest health insurer and pharmacy benefits manager.

Go deeper

19 mins ago - Politics & Policy

Senate Republicans unveil $568 billion infrastructure counterproposal

Sens. John Barasso and Shelley Moore Capito. Photo: Caroline Brehman/CQ Roll Call/Bloomberg via Getty Images

Senate Republicans formally rolled out the framework for their $568 billion counterproposal to President Biden's $2.5 trillion infrastructure plan on Thursday.

Why it matters: The package is far narrower than anything congressional Democrats or the White House would agree to, but it serves as a marker for what Republicans want out of a potential bipartisan deal.

House passes bill that would make D.C. the 51st state

House Speaker Nancy Pelosi and Washington, D.C. Mayor Muriel Bowser. Photo: Alex Wong/Getty Images

The House of Representatives voted 216-208 on Thursday to pass a bill that would grant statehood to Washington, D.C.

The big picture: It's the second year in a row that the Democratic-controlled House has voted to recognize D.C. as the 51st state. The bill now heads to a divided Senate, where it faces little chance of reaching the 60 votes necessary to send to President Biden's desk.

Dueling Van Gogh exhibits cause confusion across America

Photo: David Gray/AFP via Getty Images

Will the real Vincent Van Gogh please stand up? "Immersive Van Gogh" is coming to Orlando this fall. It's not the same as "Van Gogh Alive" at the Dalí Museum in St. Petersburg. And definitely not "Van Gogh: The Immersive Experience" coming to Miami.

What's happening: If you're confused, so are other people who keep thinking they're buying tickets to the same exhibit.