Indianapolis-based Anthem acquires rival Cigna in $54.2 billion deal

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

File photo

NEW YORK (July 24, 2015) — Anthem is buying rival Cigna in a deal valued at $54.2 billion that will create the nation’s largest health insurer by enrollment, covering about 53 million patients in the U.S.

The deal comes just three weeks after the insurer Aetna bid $35 billion for Humana in a buyout frenzy that will transform five massive U.S. health companies into three even larger ones.

Shareholders of Cigna, based in Bloomfield, Connecticut, will receive $103.40 per share in cash and 0.5152 shares of Anthem stock for each of their shares. The companies put the total value at $188 per share. The deal is targeted to close in the second half of 2016.

Anthem, based in Indianapolis, has pursued Cigna aggressively for months.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.