Key Developments: Cigna Corp (CI.N)

CI.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Capital Digestive Care and Cigna Corp collaborate to improve care and lower cost for colonoscopy
Monday, 3 Aug 2015 11:00am EDT 

Cigna Corp:Says Company and Capital Digestive Care are working together to improve quality and cost of care for people having colonoscopies.Says under the program, Capital Digestive Care physicians will look at a person's health holistically across an entire episode of care.  Full Article

Cigna Corp affirms increased earnings outlook for FY 2015
Thursday, 30 Jul 2015 06:00am EDT 

Cigna Corp:Says that outlook for FY 2015 consolidated adjusted income from operations is in the range of $2.16 billion to $2.24 billion, or $8.30 to $8.60 per share (EPS).FY 2015 net income of $2.17 billion and EPS of $8.56 - Thomson Reuters I/B/E/S.  Full Article

Cigna Corp raises FY 2015 earnings guidance
Friday, 24 Jul 2015 06:02am EDT 

Cigna Corp:Updated outlook for FY 2015 consolidated adjusted income from operations is now in range of $2.16 billion to $2.24 billion, or $8.30 to $8.60 per share (EPS).FY 2015 net income of $2.14 billion and EPS of $8.53 - Thomson Reuters I/B/E/S.  Full Article

Anthem announces definitive agreement to acquire CIGNA Corp
Friday, 24 Jul 2015 06:00am EDT 

Cigna Corp:Announces definitive agreement to acquire CIGNA Corp.Says Cigna shareholders receiving consideration of $103.40 per share in cash and 0.5152 shares of Anthem stock.The total per share consideration equates to about $188.00 for each Cigna share based on anthem's closing share price on may 28, 2015.Says combination expected to drive adjusted earnings per share accretion approaching 10% in year one.Transaction valued at $54.2 billion on an enterprise basis.Upon the close of the transaction, joseph Swedish will serve as chairman and chief executive officer of the combined company.Says under the terms of the transaction, the consideration consists of approximately 55% cash and 45% Anthem shares.Says Anthem received committed financing from Bank of America, Credit Suisse and UBS investment bank in connection with the transaction.Anthem expects its debt-to-capital ratio to be approximately 49% at the time of deal close.Says upon the close of the transaction, david cordani will be president and chief operating officer of combined co.Combined company would reflect pro forma equity ownership comprised of about 67% Anthem shareholders and approximately 33% Cigna shareholders.Following deal,anthem to have more than $115 billion in pro forma annual revenues, based on most recent 2015 outlooks publicly reported by both cos.Anthem plans to bring its debt-to-capital ratio down to the low 40% range within 24 months after deal closure.  Full Article

Cigna and Providence-Swedish Health Alliance ACO partner to improve quality and lower medical costs
Wednesday, 8 Jul 2015 10:00am EDT 

Cigna:Cigna and Providence-Swedish health alliance aco partner to improve quality and lower medical costs.Cigna will compensate Providence-Swedish health alliance for the medical and care coordination services it provides.Under the program, Providence-Swedish health alliance will monitor and coordinate all aspects of an individual's medical care.  Full Article

Anthem Inc reiterates commitment to $184 per share proposal for Cigna Corporation
Monday, 22 Jun 2015 09:00am EDT 

Anthem Inc:Says reiterated commitment to non-binding June 20 proposal to acquire Cigna Corporation for $184 per share in cash and stock.  Full Article

Anthem Inc confident, but experts see antitrust hurdles to Cigna Corp deal - Reuters
Sunday, 21 Jun 2015 08:00pm EDT 

Anthem Inc:Says dismissed concerns that buying smaller competitor Cigna Corp would be considered anti-competitive, even as antitrust experts said the combination would earn regulatory scrutiny - Reuters.Says any merger could require asset sales and would be complicated by other potential deals in the U.S. healthcare industry, expected to see rapid consolidation.  Full Article

Cigna Corp says Anthem Inc proposal inadequate and not in best interests of Cigna shareholders
Sunday, 21 Jun 2015 05:51pm EDT 

Cigna Corp:Says that it received highly conditional, non-binding proposal from Anthem Inc on June 20.Says Cigna's board has carefully reviewed this proposal consistent with the company's continued focus on maximizing shareholder value and creating differentiated value for its customers, clients and other stakeholders in a dynamic, rapidly-evolving healthcare environment.Says based on a number of factors in proposal and unaddressed concerns regarding ability to achieve benefits of a potential combination, Cigna board has unanimously determined proposal is inadequate and not in the best interests of Cigna's shareholders.  Full Article

Anthem Inc to acquire Cigna Corp for $184 per share in cash and stock
Saturday, 20 Jun 2015 01:13pm EDT 

Anthem Inc:Says that it has submitted non-binding proposal to acquire Cigna Corp for $184 per share in cash and stock.Proposed combination would create a premiere health benefits company with critical diversification and scale to lead transformation of health care delivery for consumers.Says under terms of the proposal, which was delivered to Cigna's board of directors, Cigna stockholders would receive total consideration that represents a value of $184 per share.Says offer, which values the company at $53.8 billion on an enterprise basis.Says under contemplated terms, consideration would consist of about 31.4 pct. Anthem shares and 68.6 pct. cash and combined company would reflect a pro forma equity ownership comprised of about 76.3 pct. Anthem shareholders and about 23.7 pct. Cigna stockholders.Says Anthem is also confident in its ability to complete any financing related to acquisition.Says that with cooperation of Cigna management and board of directors, the company expect that could reach mutually agreeable and negotiated transaction by end of June 2015.  Full Article

Cigna Corp reaffirms FY 2015 guidance - conference call
Wednesday, 10 Jun 2015 01:00pm EDT 

Cigna Corp:Expects FY 2015 consolidated projected adjusted income from operations to be in the range of $2.120-$2.210 bln.Expects FY 2015 consolidated projected adjusted income from operations per share in the range of $8.15-$8.50.  Full Article

U.S. hospitals urge DOJ antitrust probe of Anthem-Cigna deal

NEW YORK - U.S. hospitals urged antitrust regulators this week to consider whether health insurer Anthem Inc's planned acquisition of rival Cigna Corp would boost healthcare costs.

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