<p> US health insurer Anthem said on Saturday it had offered $47 billion in cash and stock for smaller rival Cigna Corp, signaling a pick-up in the industry’s long-awaited consolidation.<br /><br /></p>.<p>The biggest US health insurers are seeking acquisitions to boost membership in government-paid healthcare plans and the employer-based insurance that is Cigna’s specialty. Being bigger can help them negotiate better prices and improved networks of doctors, they said.<br /><br />Anthem’s offer comes as Cigna, as well as insurer Aetna, are participating in an auction to acquire another rival, Humana, according to a source. Humana was first reported to be considering a sale in May.<br /><br />Anthem, the second largest US health insurer, said in a statement it had made four offers for Cigna in June, but that the deal was stalled over Cigna Chief Executive David Cordani’s role in the merged company. <br /><br />In a letter published as part of the company’s statement on Saturday, Anthem detailed its weeks-long attempts to reach a deal with Cigna, including the steps by which it raised its offer to $184 per share. <br /></p>
<p> US health insurer Anthem said on Saturday it had offered $47 billion in cash and stock for smaller rival Cigna Corp, signaling a pick-up in the industry’s long-awaited consolidation.<br /><br /></p>.<p>The biggest US health insurers are seeking acquisitions to boost membership in government-paid healthcare plans and the employer-based insurance that is Cigna’s specialty. Being bigger can help them negotiate better prices and improved networks of doctors, they said.<br /><br />Anthem’s offer comes as Cigna, as well as insurer Aetna, are participating in an auction to acquire another rival, Humana, according to a source. Humana was first reported to be considering a sale in May.<br /><br />Anthem, the second largest US health insurer, said in a statement it had made four offers for Cigna in June, but that the deal was stalled over Cigna Chief Executive David Cordani’s role in the merged company. <br /><br />In a letter published as part of the company’s statement on Saturday, Anthem detailed its weeks-long attempts to reach a deal with Cigna, including the steps by which it raised its offer to $184 per share. <br /></p>