Cigna (CI) shares moved higher in Thursday’s trading session on reports the health insurer is in advanced talks to be acquired by Anthem Healthcare (WLP). The deal, which could be announced as early as Thursday afternoon would value each share of Cigna at $188 for a total of $48 billion, according to The Wall Street Journal. Such a deal, along with others recently, would shrink the number of the country’s biggest health insurers from five to three. There is no guarantee that regulators would bless such a deal as well as other potential mergers. There are also reportedly issues still to be worked out between the two companies, one of which is who would lead it. Cigna shares ended Wednesday’s regular trading session at $151.13, giving it a market value of $39 billion. A marriage between Anthem and Cigna would be the latest in rapid consolidation in the health insurance industry as companies seek more cost efficiency due to the Affordable Care Act.
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