Springfield, MO

Anthem's Cigna takeover bid blocked by federal judge

Posted online
A federal judge yesterday blocked Anthem's attempt to acquire Cigna for $54 billion.

The deal would have created the largest health insurer in the nation.

District Court Judge Amy Berman Jackson in Washington, D.C., ruled in favor of the Department of Justice, which in July last year sued to halt the merger.

"They propose to create the single largest seller of medical health care coverage to large commercial accounts, in a market in which there are only four national carriers still standing," the order reads. "The evidence has shown that the merger is likely to result in higher prices, and that it will have other anticompetitive effects."

Read more from CNNMoney.

[[In-content Ad]]


No comments on this story |
Please log in to add your comment
Editors' Pick

Meet this year’s class of Trusted Advisers

Virginia Fry is the judge’s choice for the 2018 Legacy Adviser.

Most Read Poll
How will you vote on Proposition A in Missouri's Aug. 7 primary election?

View results