WASHINGTON – A federal appeals court on Friday agreed with a lower court that Anthem’s proposed $54 billion merger with Cigna would be anti-competitive and should not be allowed, but Anthem said it plans to continue pursuing the deal.
Updated at 6:25 p.m.
WASHINGTON — The American Medical Association, says it is “alarmed” Anthem may be taking advantage of changes in leadership in the Justice Department that would “bend antitrust laws” and result in a settlement of the federal case that has blocked its merger with Cigna.
WASHINGTON — Anthem’s effort to merge with Cigna, which seemed to end with a huge thud when a federal court ruled the $54 billion deal is anti-competitive, may have been given new life – but the odds are long and Connecticut could stand in the way.
WASHINGTON – In a vicious legal battle laid out in court papers unsealed Friday, Cigna accuses Anthem of undermining its business by stealing confidential information and soliciting its customers. Anthem counters in a rival filing that Cigna worked to sabotage the companies’ proposed merger after its executives were not promised the positions they wanted in the merged company.
WASHINGTON — The tumultuous relationship between proposed merger partners Anthem and Cigna continued Tuesday as Cigna called for an end to the deal and demanded about $15 billion from Anthem – which said it is “committed to closing the transaction.”
WASHINGTON — After a federal judge blocked the deal last month, Aetna on Tuesday announced it would no longer pursue a $37 billion merger with Humana. U.S. District Judge John Bates ruled last month that a merger of the health insurers would result in a lack of competition in the Medicare Advantage market.
WASHINGTON — Anthem said Thursday it will appeal a federal court’s decision to block the health insurer’s planned merger with Cigna. The decision to appeal came quickly on the heels of U.S. District Judge Amy Berman Jackson’s ruling late Wednesday that the $54 billion merger would reduce competition in dozens of insurance markets across the nation.