Anthem, the health insurer, is buying Cigna in a deal valued at $54.2 billion
Friday, July 24, 2015 6:32 AM EDT
The health insurer Anthem said on Friday that it had agreed to acquire its rival Cigna in a deal that values its rival at $54.2 billion, the latest in a consolidation push among the nation’s biggest health insurers.
The deal would shrink the number of major health insurers in the United States and comes just weeks after Aetna agreed to acquire Humana, the smallest of the big five insurers, for $37 billion in cash and stock.
A combined Anthem-Cigna would have estimated revenue of about $115 billion and serve more than 53 million people with medical coverage.
Under the terms of the deal, Anthem said it would pay $188 a share in cash and stock, representing a 38.4 percent premium to Cigna’s closing price on May 28, before news of Anthem’s interest in Cigna emerged.
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NYTimes.com
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