Update! Cigna Corporation (CI) is falling back down as ANTM denies reports of trying to save the acquisition.
CIGNA Corporation (NYSE:CI) was off to a rough start, trading in the red early on. However, that all changed minutes ago as it was announced that the takeover of the company may be saved. Of course, this led to investor excitement, and ultimately a spike in the stock's value. As is almost always the case, our partners at Trade Ideas were the first to inform us of the movement. At the moment (10:03). CI is trading at $153.86 per share after a gain of $1.91 per share (1.26%) thus far today.
ANTM May Takeover CI After All
As mentioned above, CI spiked minutes ago, and for good reason. You see, Anthem has been working to takeover Cigna. However, this work hit a bit of a roadblock with the Trump Administration. Nonetheless, news broke minutes ago stating that ANTM is in last minute talks with the Trump Administration in an attempt to “rescue” the deal to acquire CI.
Of course, no one quite knows whether or not these talks will turn out to be positive. Nonetheless, if they do, Cigna will indeed be acquired by Anthem. At the end of the day, the concept is exciting to investors who are pushing the stock upward!
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What We'll Be Watching For Ahead
Moving forward, the CNA Finance team will be keeping a close eye on both CI and ANTM. In particular, we're interested in learning if the talks with the Trump Administration will be fruitful and whether or not the deal will go through. We'll continue to follow the story closely and bring the news to you as it breaks!
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