December 3, 2015
A $48 billion deal that would create the nation’s largest health insurer inched closer to completion after shareholders of both Anthem and Cigna voted in favor of a buyout. The companies said that nearly all of their shareholders approved the deal, announced in July, when the Blue Cross-Blue Shield coverage provider Anthem said it would pay $103.40 and a portion of its stock for each Cigna share. The boards of both companies have already approved the deal, and shareholder backing was widely expected, but the acquisition still has one more key hurdle to clear. Both federal and state regulators are reviewing the deal, which would create an insurance company that would cover more than 50 million people. Anthem and Cigna expect the acquisition to close in the second half of next year.