Anthem Corp’s chief executive officer, Joseph Swedish, said on Monday he is optimistic the company will get the antitrust regulatory approval it needs for its $47 billion purchase of smaller rival Cigna this year.
Swedish, in an interview at the JP Morgan Healthcare Conference, said Anthem – which will become the largest US health insurer if the deal goes through – is still providing documents to antitrust regulators to be used in deciding competitive issues.
He expects that process to end in the “not too distant future,” at which point the US Justice department will sort through the information and make a decision on how to proceed.
“We are still hopeful that somewhere in the second half of the year, we will get the announcement from the DOJ. … We are optimistic,” Swedish said. “We have not seen anything that has given us cause for concern.”
Anthem and Cigna announced their deal this past summer, a few weeks after Aetna Inc said it would buy smaller rival Humana Inc. Investors have been skeptical about both deals closing, and with a long regulatory review timeline, shares in both companies are trading far from the values implied by the deal terms.
Full content: Insurance Journal
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
FTC Urged to Enforce Rarely Used Antitrust Law Against Retail Giants
Mar 28, 2024 by
CPI
UK’s Fingleton Bolsters Team with New Additions
Mar 28, 2024 by
CPI
Britain’s Competition Regulator Clears Aviva’s Acquisition of AIG Life UK
Mar 28, 2024 by
CPI
White House Implements New AI Safeguards to Protect Rights and Safety
Mar 28, 2024 by
CPI
Denver Court Sets August Date for Kroger-Albertsons Merger Showdown
Mar 28, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Real Estate & Antitrust
Mar 27, 2024 by
CPI
Systematic National Evidence of Steering by Real Estate Agents
Mar 27, 2024 by
CPI
Compliance Now! Actionable Antitrust Advice for the Residential Real Estate Industry
Mar 27, 2024 by
CPI
Real Estate Commissions: Some Insights from the Economics of Multi-Sided Platforms
Mar 27, 2024 by
CPI
New Ideas for Promoting Real Estate Brokerage Price Competition
Mar 27, 2024 by
CPI