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Centene Falls as Humana Won't Seek to Break Up WellCare Deal

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Centene Corp. slumped after Humana Inc. said it won’t bid for the rival U.S. health insurer, which is planning to buy WellCare Health Plans Inc.

Humana said in a regulatory filing Monday that it has no designs on Centene, following a push for a combination from activist investors that opposed the WellCare deal. Centene shares fell 7.5% to $53.43 at 9:39 a.m. in New York. Humana gained 5.2% to $257.63.