- Cano Health Inc CANO shares plunged after reports that CVS Health Corp CVS has decided not to pursue an acquisition of Cano.
- Dealreporter was the first to report that CVS had decided against pursuing a deal with Cano Health, the report cited people familiar with the matter.
- The news comes just a few days after Humana Inc HUM and CVS Health showed interest in U.S. primary care provider.
- Hedge fund Third Point LLC, which owns 6.4% of Cano, has been pushing the company to put itself up for sale as its stock price has tumbled since it went public last year via the SPAC transaction.
- Price Action: CANO health shares are down 41.9% at $4.78 on the last check Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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