Anthem to acquire Cigna, leaving only 3 big insurance companies

CNN Money

  @AaronSmithCNN

In another merger of health insurance giants, Anthem has agreed to acquire Cigna in a $54 billion deal.

Anthem (ANTM), a Blue Cross and Blue Shield insurer, said it would buy all of Cigna’s (CI)shares in a cash and stock transaction.

The deal is expected to close in the second half of 2016, if it passes state regulatory approvals and other requirements. The merged insurer would cover 53 million members.

The merger would leave only three major players in the insurance industry.

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2016-05-22T21:27:09+00:00