News Headlines Article

Anthem reaffirms commitment to its $47-billion bid for Cigna
San Francisco Chronicle

Anthem sees its more than $47 billion bid to buy rival Cigna as a way to muscle up on technology that helps consumers and to strengthen its rapidly growing Medicare Advantage business. Leaders of the Blue Cross-Blue Shield insurer reaffirmed on Monday their commitment to getting a deal done a day after Cigna shot down the idea in a letter delivered to Anthem’s board. “We think we’ve put forward a very compelling offer,” Anthem Chief Financial Officer Wayne DeVeydt said when asked by an analyst during a conference call whether his company would consider raising its price.