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Anthem continues $47B Cigna takeover battle
USA Today

Health insurance giant Anthem (ANTM) on Monday reiterated support for its $47.4 billion cash and stock takeover bid for Cigna (CI), undeterred by the smaller rival’s rejection of the latest offer.

Indianapolis-based Anthem also tried to build Cigna shareholder support for the proposed transaction, webcasting a conference call with Wall Street analysts to discuss the deal terms.

The latest jockeying in what could be the largest-ever U.S. health insurance merger came as rating agency Standard & Poor’s placed the credit rating of both firms on its CreditWatch with negative implications. S&P cited concerns the transaction would be complex, lengthy and involve a “potentially high degree of integration risk.”