Cigna Group disclosed on Monday on its full-year 2024 guidance report that it is not considering a merger with Humana after reports the two companies had renewed discussions of a deal.
"The Cigna Group expects to communicate that the company is not pursuing a combination with Humana Inc. The Cigna Group remains committed to its established M&A criteria and would only consider acquisitions that are strategically aligned, financially attractive, and have a high probability to close," the firm said.
The announcement comes after Cigna and Humana Inc. canceled their merger talks after failing to reach a deal on price, alongside other financial terms.
The company's stock skyrocketed 7.89% at 8:29 am ET, going for $345.00 apiece while Humana Inc.'s slumped by 5.94% to sell for $271.00.
