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The Fort Worth-based company owns US Airways and is folding that carrier into American on October 17. Shares of Cigna fell 4.6 percent to $147.30. This represents a 50 percent premium over StanCorp’s share price as of the close of business on Thursday.

Earlier this month, the Connecticut-based Aetna purchased Humana. That helped cover up a 5 percent decline in revenue. Seven analysts surveyed by Zacks expected $10.93 billion.