Cigna Corp backing down from Humana deal

Cigna Corporation, a major U.S. health insurer, has called off its negotiations to acquire its rival Humana. The deal, which would have created a company valued at over $140 billion, ended due to disagreements over price. However, there is still a possibility for a future tie-up. Following the termination of the deal talks, Cigna announced plans to buy back $10 billion worth of shares. This move comes amidst a period of intense antitrust scrutiny in the U.S. health insurance sector, with past mega-deals being blocked by regulators. The share repurchase plan by Cigna has been seen as a value-enhancing deployment of capital aimed at supporting high-quality care and better health outcomes.