Anthem, Inc. (NYSE: ANTM) revealed Wednesday that it received the Final Order from Indiana Department of Insurance Commissioner, Stephen Robertson, approving its acquisition of Cigna HealthCare of Indiana, Inc., a fully owned subsidiary of Cigna Corporation (NYSE: CI).
The insurance firm said that on July 23, 2015 Anthem and Cigna struck a definitive deal whereby the former would buy all outstanding shares of Cigna in a cash-and-stock transaction. The company expects that the transaction continued to achieve key milestones. It pointed out that the latest approval meant that its acquisition has received clearance from 12 States.
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Anthem's chairman, president and CEO, Joseph Swedish, said that "We are pleased that the Indiana Department of Insurance has recognized the merits of our combination. This decision is evidence of the great work by our associates and our continued progress toward an anticipated completion of the transaction."
The insurance firm indicated that for more than eight months, it had an ongoing productive dialog with state, as well as, federal regulators as they review the proposed combination on its merits. The company said it is fully committed to closing this transformative transaction, which was overwhelmingly approved by more than 99% of each of its and Cigna's shareholders.
On Thursday, the stock traded 1.2 percent down.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.