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Court upholds decision to block health insurer Anthem's bid for rival Cigna

PBS NewsHour

The office building of health insurer Anthem is seen in Los Angeles, California. A federal appeals court on Friday left in place a decision blocking Anthem Inc.'s bid to buy rival health insurer Cigna Corp. Photo by REUTERS/Gus Ruelas. WASHINGTON -- A federal appeals court on Friday left in place a decision blocking Anthem Inc.'s bid to buy rival health insurer Cigna Corp. The 2-1 decision by the U.S. Court of Appeals for the District of Columbia Circuit upholds a federal judge's ruling in February that said the proposed $48 billion acquisition would reduce competition in the concentrated insurance market. Anthem argued the merger would save $2.4 billion in medical costs and lead to lower consumer premiums.


Judge blocks Anthem-Cigna health insurance merger

FOX News

A federal judge on Wednesday ruled against Anthem Inc. in its quest to buy rival health insurer Cigna Corp., saying the merger could potentially lead to an increase in costs and less competition. U.S. District Judge Amy Berman Jackson issued the ruling against Anthem. Jackson said the merger would significantly reduce competition in the insurance market, particularly for large employers. Just four insurers sell to companies with at least 5,000 employees spread across multiple states, and the judge says Cigna and Anthem aggressively compete for their business. Reuters reported the Anthem, Cigna merger was a projected $54 billion deal.


Anthem-Cigna health insurance merger is rejected by judge

Los Angeles Times

Predicting diminished competition and likely higher costs, a federal judge has rejected Anthem Inc.'s bid to buy rival health insurer Cigna Corp. U.S. District Judge Amy Berman Jackson said Wednesday that the merger would significantly reduce competition in the already concentrated insurance market, particularly for large national employers. Cigna and Anthem are two of just four insurers selling to companies with 5,000 employees spread across multiple states, and they compete aggressively for business, the judge wrote. Berman Jackson was unconvinced by Anthem's argument that the merged company could save money for customers by combining the two insurers' different approaches to cost saving. Anthem has negotiated lower payments to doctors and hospitals, while Cigna has focused on preventive care in the hopes of reducing future expenses.


Anthem ends bid for Cigna but vows to keep fighting over damages

Los Angeles Times

Anthem Inc. is finally ending its soured, $48 billion bid to buy rival Cigna Corp., but the nation's second-largest health insurer isn't giving up a fight over whether Cigna deserves a termination fee for the scrapped deal. Anthem says Cigna sabotaged the merger agreement and caused "massive damages" for Anthem, which provides Blue Cross-Blue Shield coverage in several states. The Indianapolis-based insurer announced its decision Friday, a day after a Delaware judge refused its request to extend a ban blocking Cigna from pulling out of the deal. The deal, announced in 2015, has already been rejected by a federal judge and an appeals court. Anthem said last week that it would seek a Supreme Court review of the case.


Anthem Gives up Cigna Bid, Vows to Fight on Over Damages

U.S. News

FILE - This combo of file photos shows signage for health insurers Cigna Corp., and Anthem Inc. Anthem is finally ending its soured, $48 billion bid to buy rival Cigna, but the nation's second-largest health insurer isn't giving up a fight over whether Cigna deserves a termination fee for the scrapped deal. Anthem says Cigna sabotaged the merger agreement and caused "massive damages" for Anthem, which provides Blue Cross-Blue Shield coverage in several states.