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Text of D.C. Circuit Opinion Upholding Prohibition of Anthem-Cigna Merger (PDF)
U.S. Court of Appeals for the District of Columbia Circuit Link to more items from this source
Apr. 28, 2017

66 pages. "Anthem and Cigna challenge the district court's decision and order permanently enjoining the merger on the principal ground that the court improperly declined to consider the claimed billions of dollars in medical savings.... [W]e hold that the district court did not abuse its discretion in enjoining the merger based on Anthem's failure to show the kind of extraordinary efficiencies necessary to offset the conceded anticompetitive effect of the merger in the fourteen Anthem states: the loss of Cigna, an innovative competitor in a highly concentrated market." [U.S. v. Anthem, No. 17-5024 (D.C. Cir. Apr. 28, 2017)]

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