Humana Won't Make An Offer For Centene

Health insurer Humana HUM confirmed it will not make a proposal to combine with Centene CNC as an alternative to Centene’s planned acquisition of WellCare Health Plans WCG, according to Reuters.

Investors had been expecting Humana to make an offer for Centene.

Centene and WellCare have set a date of June 24 for shareholders of each company to approve of their merger at separate meetings.

Humana was trading up 3.7 percent at $254 per share Monday morning.

Centene shares were trading down 9 percent at $52.85.

WellCare shares were trading up 1.2 percent at $279.50.

Related Links:

The Week Ahead In Biotech: ASCO Presentations Pick Up The Pace

Attention Biotech Investors: Mark Your Calendar For These June PDUFA Dates