Federal Appeals court upholds decision to block $48 billion deal - WDRB 41 Louisville News

Federal Appeals court upholds decision to block $48 billion deal between Anthem and Cigna

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LOUISVILLE, Ky. (WDRB) -- A big blow to Anthem's bid to buy rival health insurer, Cigna.

Friday, a Federal Appeals court upheld a decision to block the $48 billion deal.

A judge blocked the deal in February because it would reduce competition in the insurance market.

Anthem argued that medical savings from the merger would offset any anti-competitive effects.

But the Justice Department said Anthem had no plan to reach those savings.

Meanwhile, Cigna wants $1.8 billion in break-up fees from Anthem and billions more in damages.

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