Health insurance company Cigna (CI) rocketed higher in Monday’s afternoon session on reports it had rejected an offer from Anthem (ANTM) worth approximately $175 a share, valuing the company at over $40 billion. Potential consolidation in the health care sector helped to push UnitedHealth (UNH) higher to top the Dow. Micron Technology (MU) was one of the worst performers on the S&P 500 after analysts at Morgan Stanley slashed its rating. Stocks closed modestly lower, dragged on by a combination of fears over a Greek debt default, oversupply in the global oil market, and ahead of the Fed’s two-day meeting that kicks off on Tuesday.
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