Connecticut-based health insurer Cigna Corp. announced Tuesday that it is rejecting Anthem’s $48 billion acquisition offer.
Category: Cigna
Cigna Sues Anthem After Ending Deal; Anthem Says It Has No Right
Simmering tensions between Anthem Inc. and Cigna Corp. exploded Tuesday as Cigna sued to end their $48 billion deal, and Anthem moments later said the smaller health insurer had no right to do so and that it would fight to keep the merger alive. As part of its lawsuit, Cigna is seeking a $1.85 billion breakup fee, plus $13 billion in additional damages it says are owed after “the path for regulatory approval of the transaction was fatally compromised” by Anthem.
Health Insurers Weigh Next Moves After Striking Out on Mergers
After 18 months of courtship and court cases, two massive deals that would have reshaped the U.S. health insurance industry have both been declared dead, blocked by judges who said they’d do unacceptable harm to competition in the industry. Now, the companies are right back where they started.
After Two Megadeals Blocked, Health Insurers Plot Next Move
After 18 months of courtship and court cases, two massive deals that would have reshaped the U.S. health insurance industry have both been declared dead, blocked by judges who said they’d do unacceptable harm to competition in the industry. Now, the companies are right back where they started.
US judge blocks Anthem-Cigna health insurance merger
A federal judge on Wednesday rejected Anthem Inc.’s bid to buy rival health insurer Cigna Corp., saying the merger would likely lead to higher costs, less competition and diminished innovation. U.S. District Judge Amy Berman Jackson said the merger would significantly reduce competition in the already concentrated insurance market, particularly for large national employers.
US judge blocks Anthem-Cigna health insurance merger
A federal judge on Wednesday rejected Anthem Inc.’s bid to buy rival health insurer Cigna Corp., saying the merger would likely lead to higher costs, less competition and diminished innovation. U.S. District Judge Amy Berman Jackson said the merger would significantly reduce competition in the already concentrated insurance market, particularly for large national employers.
Cigna CEO will assess role in 2018 Obamacare individual plans
… on Thursday. NEW YORK The U.S. government on Wednesday proposed an increase of 0.25 percent on average in payments to health insurers who offer Medicare Advantage insurance, which provides health benefits to more than 18 million elderly or disabled …
Judge Nixes Aetna’s $37 Billion Purchase of Humana; Aetna Considers Appeal
Aetna Inc.’s $37 billion deal to buy rival insurer Humana Inc. was blocked by a federal judge, thwarting one of two large mergers that would reshape the U.S. health-care landscape. Aetna said it was considering an appeal.
CVS generic competitor to EpiPen, sold at a 6th the price
Health insurance giant Cigna said it will no longer cover Mylan’s EpiPen, which had been subject the a controversial price hike in 2016. Amid the negative press, Mylan ended up offering a coupon to reduce the drug’s price.