Cigna Puts a ‘Stake in This Vampire,’ Killing Humana Merger Speculation
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Nov 15, 2024
Ending nearly a year of “will-they-or-won’t-they” speculation, The Cigna Group on Nov. 11 confirmed it is not pursuing an acquisition of Humana Inc., thus ending the possibility of a “Cigmana,” as some analysts called it.
In a press release outlining its capital priorities, the insurer emphasized its commitment to established merger and acquisition (M&A) criteria and said it “would only consider acquisitions that are strategically aligned, financially attractive, and have a high probability to close.” Cigna also affirmed its stock repurchase activity, noting it has bought back $6 billion worth of stock year to date and will continue into 2025, using proceeds from the pending sale of its Medicare Advantage (MA) business to Health Care Service Corp., which is expected to close in the first quarter of 2025.
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