By Sabela Ojea

 

Shares of Cigna Group on Wednesday dropped after The Wall Street Journal reported that the company is in talks with Humana for a combination that would create a new powerhouse in the health-insurance industry.

Cigna shares were recently trading down 5.2%, at $271.31. The shares are down more than 16% this year.

The companies are discussing a stock-and-cash deal that could be closed by the end of the year, according to the Journal.

Cigna currently has a market capitalization of about $79 billion, and Humana is valued at about $63 billion.

 

Write to Sabela Ojea at sabela.ojea@wsj.com

 

(END) Dow Jones Newswires

November 29, 2023 12:52 ET (17:52 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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