Cigna Confirms No Merger with Humana, Boosts Stock

Cigna officially announced it is not pursuing a merger with Humana, focusing instead on strategic acquisitions and share repurchases.

Cigna announced that it is not pursuing a merger with Humana, dismissing recent speculation about a potential deal.
The decision comes as Cigna nears the sale of its Medicare business to Health Care Service Corp., expected to close in early 2025.
Cigna's stock rose nearly 8% following the announcement, while Humana's stock fell by approximately 6%.
Cigna plans to use proceeds from its Medicare business sale for share repurchases, with $5.3 billion remaining in its buyback authorization.
The company reaffirmed its projected growth, expecting adjusted EPS of at least $28.40 per share for 2024 and a 10% growth in 2025.