On Oct. 18, Bloomberg reported the two companies had resumed merger discussions. Humana and Cigna were in talks to merge in late 2023, but the deal fell apart over disagreements on price.
Scott Fidel, an analyst with Stephens, wrote that the merger would be “only tangibly moving forward” if Republican nominee Donald Trump wins in November, Bloomberg reported.
If Humana and Cigna merge, they would create one of the largest healthcare companies in the U.S. and draw antitrust scrutiny.
Under current Federal Trade Commission Chair Lina Khan’s leadership, at least seven major healthcare deals have been blocked.
A second Trump administration could take a more permissive view toward major mergers and acquisitions. The administration approved CVS Health’s $69 billion acquisition of Aetna in 2018.
Any formal announcement on a deal before the election is highly unlikely, TD Cowen analyst Ryan Langston told Bloomberg.
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