Federal appeals court ruling all but ends Anthem-Cigna merger

|By:, SA News Editor

A U.S. appeals court declines to allow Anthem (NYSE:ANTM) to buy Cigna (NYSE:CI), affirming a lower court's recent ruling that blocked the deal on antitrust grounds.

Today's rejection of ANTM’s argument that the trial court had failed to sufficiently weigh the company’s claim that billions of dollars in cost savings would flow from the merger could mark the death blow to the acquisition plan.

The litigation has played out amid acrimony between the two companies, which had been feuding even before the Justice Department filed its antitrust lawsuit last year, with ANTM and CI eventually accusing the other of violating the merger agreement.