The deal between the Cigna health insurer and Humana, a fellow U.S. health insurer has been called off, scrapping the deal that could possibly create a $140 billion giant in the health insurance industry.
Cigna Health Insurer Called Off Deal with Humana (Photo: HealthMarkets)
Cigna Health Insurer Called Off Deal with Humana
According to MSN, the Cigna health insurer has ended its attempt to negotiate an acquisition of peer Humana, scrapping the deal that could have created a roughly $140 billion giant in the industry.
The people familiar with the matter stated that the Cigna health insurer and its fellow, Humana, could not come to an agreement on price and other financial terms. Thus, Cigna health insurer is turning its focus toward smaller acquisitions in the near term.
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Cigna Health Insurer Continues to Believe Merits with Humana
According to WHTC, the Cigna health insurer continues to believe in the merits of a combination with Humana. The report states that a new company would focus on improving access to care and lowering costs for consumers.
Moreover, the Cigna health insurer also believes a deal would have been achievable from a regulatory perspective, yet instead, the Cigna health insurer plans an additional $10 billion of stock buybacks, bringing a total amount of repurchases to $11.3 billion.
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