Cigna Group (CI)

Shares of Cigna Group (CI) dropped by 8.11% from $286.08 to $262.87 in the trading on Wednesday, November 29, 2023. The reason why CI is down today is due to ongoing talks of a merger between Cigna and Humana, which would create a $140 billion US health insurance giant. The merger discussions have drawn attention from antitrust authorities, as advisors from both companies have been exploring a cash and stock deal for over a month, aiming to finalize it by year-end. The potential merger is seen as a strategic move to compete with industry giants like UnitedHealth Group and Elevance Health. However, the antitrust environment presents challenges, as both Cigna and Humana have faced previous deal blockages. To address potential regulatory concerns, Cigna is considering divesting certain assets.