Bloomberg Law
April 28, 2017, 9:55 PM

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

Anthem Inc. failed 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, 4/28/17).

The federal appeals panel in Washington upheld a lower court ruling by a 2-to-1 vote on April 28. The court rejected Anthem’s key argument, that the medical savings resulting from a combination of the two companies were enough to offset any anti-competitive effects.

Anthem, based in Indianapolis, said it was disappointed by the ...