ING Group, the Dutch insurer, has ended discussions with Aetna Inc, the largest US health insurer, over the purchase of Aetna's financial services and international businesses after the two companies failed to agree on a value that would provide a satisfactory return to ING's stockholders.

Amsterdam-based ING said it made an acquisition proposal, which it believes fully valued the businesses and was fair to Aetna's stockholders, policyholders, employees and the community of Hartford, Connecticut, where Aetna has its headquarters.

ING said it also believes its offer provides advantages that are not available to Aetna under its other options. The Dutch company said it would continue to pursue opportunities for expanding its presence in the United States and internationally.

Yesterday's announcement follows Aetna's statement on Friday, in which the US insurer said it had started talks with other potential buyers of its financial services and international businesses, saying it had received "numerous expressions of interest in these assets from other potential acquirers". At the end of May, Aetna had announced its intention to sell its financial services and international units to ING.