Anthem Loses Appeal to Overturn U.S. Block of Cigna Takeover

Anthem Inc. lost its bid to overturn a court ruling that blocked its planned takeover of rival Cigna Corp., capping a nearly two-year battle to complete a combination of two of the biggest health insurers in the U.S. (United States v. Anthem Inc., D.C. Cir., 17-5024, order 4/28/17, , U.S. Court of Appeals for the District of Columbia.

The federal appeals court in Washington upheld a lower court ruling by a 2-1 vote, according to an order issued April 28. The court rejected Anthem’s key argument, that the medical savings that would result from combining the two companies ...