Anthem CEO: Despite ‘Dynamic Tension’ With Cigna, $48M Merger Deal On Track
CEO Joseph R. Swedish said the two insurers have resolved differences and are moving forward to receive regulatory approval. Still, investors are definitely watching.
The Wall Street Journal:
Anthem CEO Says Cigna Deal Moving Forward
Anthem Inc. Chief Executive Joseph R. Swedish acknowledged “dynamic tension” with Cigna Corp. over their $48 billion pending merger, but said the health insurers had resolved differences and are on track to receive regulatory approval. The Wall Street Journal had reported that Anthem and Cigna were privately sparring on several fronts as they work toward antitrust clearance, citing letters their executives exchanged as recently as this month. Speaking at an investor conference in New York, Mr. Swedish called the disputes “old news.” He said the companies are working well together and have “virtually met all the deadlines up to this point” in the antitrust review by the Justice Department. (Hoffman and Wilde Mathews, 5/24)
The Wall Street Journal:
Anthem And Cigna: What Worried Investors Have To Hear
Companies tend to break a few eggs when making a deal omelet, so investors probably shouldn’t fret too much about squabbling between Anthem and Cigna. It is the regulatory cook in the kitchen that is the bigger issue. Anthem and Cigna have bickered about a number of issues since agreeing to a deal last summer, raising fears the acquisition won’t close, The Wall Street Journal reported Monday. Anthem told investors Tuesday that isn’t likely to scuttle the deal, which it still expects will close sometime this year. (5/24)
