Cigna Confirms It Will Not Pursue Humana Acquisition

Health insurer Cigna confirmed that it will not pursue its previously anounced plans to acquire rival Humana. In 2023, Cigna said the deal faltered due to failure to agree on a price. The acquisition would have created a company with a value exceeding $140 billion, as of late 2023. Cigna had a market value of $77 billion, and Humana had a market value of $59 billion.

Following the breakdown of the acquisition, Cigna had announced plans to do an additional $10 billion in share repurchases, bringing total repurchases to $11.3 billion. Cigna was also considering selling its Medicare Advantage . . .