Anthem To Buy Rival Health Insurer Cigna In $54.2 Billion Deal

Health insurer Anthem Inc. said Friday it's purchasing Cigna Corp. in a deal valued at $54.2 billion. The combined company will cover about 53 million members, and the deal should result in the addition of roughly 10% to adjusted per-share earnings in the first year, the companies said in a statement. Cigna shareholders will receive $103.40 in cash and 0.5152 Anthem common shares for each Cigna common share, equating to about $188.00 a share.