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Cigna CEO Expressed Regret About Merger That Later Failed (1)

March 4, 2019, 11:18 PM

While publicly backing Cigna Corp.’s 2015 merger with rival health insurer Anthem Inc. as good for investors, Cigna’s CEO privately expressed regret about signing on to a deal that left him with a reduced role, lawyers for Anthem said in court Monday.

Cigna shareholders were slated to get nearly a 30 percent premium for their stock in Anthem’s $48.9 billion buyout. But David Cordani, Cigna’s chief executive officer, lost out to Anthem CEO Joseph Swedish in a corporate duel over who would lead the combined company, set to be the largest health insurer by membership in the U.S.

Anthem officials...

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