Cano Health Stock Plumments on Report CVS Is Abandoning Purchase

Cano Health

shares had their largest drop on record Monday following a report that

CVS Health

has walked away from a potential acquisition of the primary care provider.

Dealreporter was the first to report that CVS (ticker: CVS) had decided against pursuing a deal with

Cano Health

(CANO). The report cited people familiar with the matter. This news comes just 10 days after Bloomberg reported that CVS was in “exclusive talks” to acquire the company.