Cigna rebuffs Anthem's $47B proposal

Health insurer Cigna Corp. rebuffed Anthem Inc.'s $47 billion merger proposal on Sunday, saying it was "deeply disappointed" with Anthem's recent actions and the offer was not in the best interest of shareholders.

On Saturday, Anthem, the second-largest U.S. health insurer, announced it made four offers for Cigna in June, according to Reuters.

Meanwhile, sources say Cigna and Aetna Inc. are vying to acquire Humana Inc.

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