Appeals court upholds blocking Anthem's Cigna bid

Washington • A federal appeals court on Friday left in place a decision blocking Blue Cross-Blue Shield insurer Anthem’s bid to buy rival Cigna, saying that a bigger company is not better for consumers. The 2-1 decision upholds a federal judge’s ruling in February that said the proposed $48 billion acquisition would further reduce competition in the already concentrated health insurance market. Anthem argued the combination would save $2.4 billion in medical costs and lead to lower consumer prem...

Share this post