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Cigna rejects Anthem takeover bid
Modern Healthcare

Health insurer Cigna Corp. has rejected a $47 billion offer to be acquired by Anthem, a larger rival, saying the terms of the bid are inadequate and “woefully skewed in favor of Anthem shareholders.”

Cigna’s sharply worded rejection came just one day after Anthem went public with its cash-and-stock offer, which amounts to about $184 for each Cigna share or about an 18% premium on Cigna’s closing stock price on Friday.

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