Cigna shares surge on reports of takeover bids

Shares of health insurer Cigna jumped nearly 12 percent Monday after it was reported that Anthem had made two takeover bids for Cigna within the past two weeks, according to a Hartford Courant report.

Cigna rejected both of Anthem's takeover bids, with the most recent bid at about $175 a share.

After the news broke, shares of Cigna rose to $153.43, up $16.12 for the day, according to the report.

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