During a special shareholder meeting, Cigna shareholders voted to approve the adoption of the previously announced merger agreement with Anthem. The merger is valued at $54.2 billion.
Approximately 99 percent of the votes cast voted in favor of the adoption of the merger agreement, which represented approximately 82 percent of Cigna’s total outstanding shares of common stock.
The transaction is expected to close in the second half of 2016, pending the receipt of customary approvals, including certain state and federal regulatory approvals and expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act, and the satisfaction of other customary closing conditions.
The healthcare merger and acquisition market has set a new record in 2015. More than $549 billion has been spent on healthcare transactions, which includes the Cigna/Anthem merger as well as the $37 billion Aetna/Humana merger. The two combined represent 18 percent of the healthcare merger and acquisition market.
