Cigna Says It Won’t Pursue Combination With Rival Humana (2)

Cigna Group said it won’t pursue a combination with rival insurer Humana Inc.

The two health insurance giants held talks about a deal last year, but Cigna walked away after the two companies failed to agree on a price, Bloomberg News reported in December.

The discussions were revived as the US government intensified its effort to control Medicare costs that have eaten away at Humana’s finances and market value, Bloomberg News reported last month.

Cigna “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 ...