(Reuters) -Health insurer Cigna Group said on Monday it is not pursuing a combination with peer Humana. Shares of Cigna rose 3.2% in premarket trading, while Humana fell nearly 3%. Cigna said it would only consider acquisitions that are "strategically aligned, financially attractive and have a high probability to close".

KEY TAKEAWAYS Humana shares are tumbling Monday morning after The Cigna Group said it is not pursuing a merger with its smaller health insurance rival.Negotiations by Cigna to buy Human fell apart last year but Bloomberg reported last month that the two companies had held informal talks about a deal,

Shares of Humana (NYSE:HUM) slid 7% premarket on Monday after Cigna (NYSE:CI) confirmed it won’t pursue combination with the managed care insurer. “In light of recent and persistent speculation, The Cigna Group expects to communicate that the company is not pursuing a combination with Humana Inc.