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California Regulator Tells U.S. to Block Anthem-Cigna Deal

  • Insurance commissioner doesn’t have authority to stop takeover
  • Commissioner Jones sends 22-page letter to Justice Department
Updated on

California’s insurance commissioner called on the U.S. government to block Anthem Inc.’s $48 billion takeover of rival health insurer Cigna Corp., saying the deal would limit competition in the state’s health-insurance market.

While Commissioner Dave Jones doesn’t have legal authority to block the merger, his opposition, plus a 22-page letter he sent to the U.S. Justice Department, adds an influential voice from nation’s most populous state. The letter lays out why the deal should be stopped by the department, which is reviewing the takeover for antitrust issues.