Cigna, Anthem CEOs can't see eye-to-eye

The unwillingness of both Cigna and Anthem's chief executive officers to see eye-to-eye may be stalling a merger between the two companies. When Anthem pitched the $47 billion bid for Cigna, it was unclear what current Cigna CEO David Cordani's role would be, reports Bloomberg. Under the public offer made Saturday, Anthem CEO Joseph Swedish would assume the roles of chairman, CEO, president and head of the integration team; Cigna rebutted the plan by stating Cordani should play a bigger part. In the letter Swedish sent to Cigna, Anthem made four offers starting at $174 a share. Cigna declined, and as David Windley, an analyst at Jefferies Group points out, the back and forths demonstrate that Cigna's primary concern is Cordani's role. Article

Elsewhere, Aetna privately made an offer for Humana in the past few days, which has a market value of $30 billion, reports the Wall Street JournalArticle