Anthem says it intends to complete merger with Cigna despite Department of Justice lawsuit
Anthem Inc. said Thursday it plans to challenge a Department of Justice lawsuit aimed at preventing a merger with Cigna Corp. . Anthem called the lawsuit "unfortunate and misguided," based on "a flawed analysis and misunderstanding" of the health care landscape. The company said it is also open to a settlement with the Department of Justice so long as it would allow the merger to proceed. The merger, one of two proposed by four large U.S. health insurers, is being disputed on antitrust concerns. Aetna and Humana Inc. also said Thursday they would dispute a Justice Department lawsuit in court. Anthem shares dropped 2.9% over the last month, and Cigna shares rose 5.4%, compared with a 4.0% rise in the S&P 500 .
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