Cigna is abandoning its efforts to merge with rival Humana, after being unable to agree on price, as first reported by the WSJ.
Why it matters: The combined company would have become one of the nation's largest health insurers, rivaling market leaders UnitedHealth and Aetna owner CVS Health.
Shareholders of Hawaiian Airlines got a very happy surprise this week when Alaska Airlines agreed to buy their company at $18 a share, an eye-popping 270% premium over where the shares closed the prior Friday.
Why it matters: Because most acquisitions of public companies take place at a premium of roughly 30% to where the stock had been trading, exceptions to that rule are always intriguing. In this instance, there's a case to be made that the price being paid is not excessive.
When British American Tobacco acquired Reynolds American in 2017, it was — by far — the most valuable brand acquisition of all time, involving brands (Newport, Camel, American Spirit, and more) worth $93.6 billion.
Why it matters: Today, the market capitalization of the entire combined company is just $65 billion.
"Books are best enjoyed when read out loud," children's book author (and former FDIC chair) Sheila Bair tells Axios.
Why it matters: Bair is an adviser to the Foolproof Foundation, which encourages a skeptical attitude toward financial-services messaging in its school curricula.
High mortgage rates have all but frozen the U.S. housing market.
Why it matters: The "lock-in effect" is real. As one real estate agent put it, 2023 was "the year your first home accidentally became your forever home."
