News Headlines Article

Cigna surges on Anthem takeover report
USA Today

Shares of Cigna (CI) surged Monday following a report the health insurance giant has been approached by rival Anthem (ANTM) in a potential takeover overture.

Cigna shares closed up 11.74% at $153.43 following a report inThe Wall Street Journalthat Anthem had made two recent acquisition bids, the most recent in the range of $175 a share.

Based on the more than 257 million Cigna shares outstanding as of April 25, a deal that size would value the company at roughly $45 billion.