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Stock Market & Financial Investment News

News Breaks
January 4, 2013
08:40 EDTHS, WLP, MOH, CI, AET, CNC, CVH, HNT, HUM, AGP, UNH, WCGSeven more states to create health insurance exchanges, Washington Post says
The White House yesterday approved plans by seven more states to create health insurance exchanges, under the terms of the Affordable Care Act, according to the Washington Post. The White House has now approved the creation of exchanges by 17 states and Washington, DC, and more states may decide to partner with the federal government on the creation of exchanges, the newspaper added. Reference Link
News For CI;WCG;HNT;MOH;UNH;CVH;WLP;AGP;CNC;HS;HUM;AET From The Last 14 Days
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June 22, 2015
11:29 EDTCIAnthem says not aware of other bidders when making Cigna bid
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11:18 EDTCIAnthem says would suspend buybacks for year with signing of Cigna deal
Anthem (ANTM) says team has worked for months evaluating "realistic" synergies of potential Cigna (CI) deal. Says $2B in synergies within two years post-close "achievable." Sees international opportunities with Cigna acquisition. Says confident on attaining financing for Cigna purchase. Says expects to suspend buybacks for the year with signing of Cigna deal, but sees maintaining dividend. Anthem does not see regulatory issues thwarting deal. Says Cigna acquisition is a strategic priority. Comments being made on Anthem's update reaffirming its commitment to its $184 per share proposal for Cigna.
10:57 EDTCIAnthem to hold a conference call
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10:15 EDTCIAnthem repeats FY15 revenue view of about $78.5B, consensus $78.16B
Repeats FY15 revenue view $78.5B, sees revenue for a combined Anthem (ANTM)-Cigna (CI) at >$115B. Anthem sees greater than 10% accretive to adjusted EPS in first year post-close, with accretion more than doubling in year two. Assuming the transaction closes on December 31, 2016, sees $17.00+ adjusted EPS in 2018. Anthem says expects to maintain dividend payout ratio policy, committed to retaining investment grade debt ratings. Says committed to de-levering over 2-year period post-close. Says deal is "compelling" for Cigna shareholders. Says Anthem has made "good faith efforts" to engage in valuation and governance discussions with Cigna, says fully prepared to proceed immediately to finalize due diligence and merger agreement negotiations. Comments from slides that will be presented on Anthem's update reaffirming its commitment to its $184 per share proposal for Cigna.
09:14 EDTCIOn The Fly: Pre-market Movers
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09:02 EDTCICigna hits fresh highs after rejecting Anthem bid
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09:02 EDTCIAnthem reiterates commitment to $184 per share proposal for Cigna
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09:01 EDTCIAnthem reiterates commitment to $184 per share proposal for Cigna
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08:16 EDTHUM, CI, AETAnthem, Cigna deal would be negative for Catamaran, says Leerink
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07:54 EDTCI, AET, HUMAnthem, Cigna deal likely to be consummated, says Leerink
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07:16 EDTHUM, CI, AETAnthem should be bought after Cigna offer, says Stifel
After Anthem, (ANTM) offered to buy Cigna (CI) and the latter company rejected the bid, Stifel estimates that the deal would have been 10% accretive for Anthem in the first year and 20% accretive in the second year. The firm thinks that accretion from the deal will probably be higher than expected. It also recommends buying Aetna (AET) as it believes that the Anthem offer suggests that Aetna will benefit more than expected from its own deal. The firm is cautious on Humana (HUM), saying that it may lose two potential buyers in Anthem and Cigna, while Humana may retreat if Aetna does not acquire the company quickly.
06:51 EDTCI, AET, UNH, HUMHealth insurer tie-ups could cut competition, WSJ reports
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06:37 EDTMOH, AET, CI, WCG, CNC, HNT, HUM, UNHHealth insurers may change policies based on King v. Burwell ruling, NYT says
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06:03 EDTCICigna implied volatility of 37 at upper end of index
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June 21, 2015
18:17 EDTCICigna calls Anthem offer 'inadequate,' 'woefully skewed'
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16:57 EDTCICigna says Anthem proposal not in interest of shareholders, Bloomberg reports
Cigna (CI) has sent a letter of rejection to the Anthem (ANTM) board of directors, reports Bloomberg. Notably, Cigna acknowledged that the combination of the two companies has some potential benefits under the right circumstances. However, the company also remarked that Anthem has "complications" related to its Blue Cross and Blue Shield membership, and also cited antitrust actions as well as Anthem's "lagging" shares.
16:50 EDTCICigna board unanimously rejects Anthem proposal, DJ says
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16:03 EDTHUM, AET, UNH, CIAetna makes offer to acquire Humana, WSJ says
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15:26 EDTCIAnthem publicized offer for Cigna in order to pressure company, WSJ says
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June 20, 2015
19:56 EDTCIAnthem proposes to acquire Cigna for $184 per share in cash, stock
Anthem (ANTM) announced that it has submitted a non-binding proposal to acquire Cigna (CI) for $184 per share in cash and stock. Under the terms of the proposal, which was delivered to Cigna’s board, Cigna stockholders would receive a total consideration that represents a value of $184 per share. The offer, which values the company at $53.8B on an enterprise basis, represents an “unaffected” premium to Cigna’s stockholders of more than 35.4%, based on the closing price of Cigna’s shares on May 28. The combined company would be an industry leader with greater than $115B in annual revenues, based on the most recent 2015 outlook publicly reported by both companies. Under the contemplated terms, the consideration would consist of approximately 31.4% Anthem shares and 68.6% cash and the combined company would reflect a pro forma equity ownership comprised of approximately 76.3% Anthem shareholders and approximately 23.7% Cigna stockholders. Anthem is also confident in its ability to complete any financing related to the acquisition, the company said. Anthem expects the combination would be accretive to operating earnings per share and that the combined enterprise would generate significant annual cost synergies by achieving operating and G&A efficiencies. Anthem expects to achieve adjusted earnings per share accretion of greater than 10% in year one, with the accretion more than doubling by year two following the closing of the transaction. Anthem is confident in the achievability of synergies and is committed to retaining investment grade debt ratings, the company noted. Anthem is confident in its ability to obtain regulatory approvals. In the course of previous negotiations, both companies have expressed a confidence that regulatory approval would not delay the consummation of the combination. This includes matters related to the Blue Cross Blue Shield Association. "Anthem has been engaged with Cigna to explore a potential combination since August 2014 and is making its proposal public today following Cigna’s refusal to reasonably negotiate and its insistence on securing governance matters that are not common practice in similar transactions. Anthem is confident in the value being offered, the growth potential of the combined company and its ability to successfully integrate the two organizations," the company stated.
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