At Antitrust Trial, Anthem Builds Defense Of Its Merger With Cigna
The big insurer argued that, as a result of its proposed $48 billion acquisition of Cigna, consumers would benefit while government attorneys maintain it will undermine competition.
The Wall Street Journal:
Anthem Begins Defense Of Cigna Merger At Antitrust Trial
Anthem Inc. executives told a judge Tuesday that consumers would benefit from the company’s proposed acquisition of Cigna Corp., saying the new company would be highly innovative while not reducing the fierce competition in the health insurance marketplace. (Kendall, 11/29)
Anthem Fights U.S. Suit Saying Cigna Will Help It Compete
Anthem Inc. fired back against U.S. claims that the health insurer’s planned $48 billion takeover of rival Cigna Corp. will undermine competition, with an Anthem executive testifying that the company plans to use Cigna to compete in new markets. Acquiring Cigna will give Anthem a way to vie for business against Blue Cross & Blue Shield Association plans around the country, said Morgan Kendrick, Anthem’s president of national accounts. As a member of the association, Anthem is restricted in competing against other Blue Cross Blue Shield plans, but Kendrick testified Tuesday that Cigna won’t be. (McLaughlin, 11/29)