, Columnists
No Easy Steps for Insurers Left at the Altar
Mega-deal deaths would leave Cigna, Humana scrambling in an uncertain world.
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The separate mega-mergers of Cigna Corp. and Humana Inc. are both on shaky ground. So are their possible alternatives.
A federal judge blocked Humana's $37 billion takeover by Aetna Inc. on Monday, saying the deal would undermine competition. Aetna is considering appealing, but it's going to be a tough sell. The decision isn't a good sign for Anthem Inc.'s $50 billion offer for Cigna, which already faced worse antitrust odds. Should both deals go kaput, Humana will walk away with a $1 billion break-up fee, while Cigna could add $1.85 billion to its coffers.