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Fly News Breaks for May 23, 2016
CI, ANTM
May 23, 2016 | 06:46 EDT
Citi analyst Ralph Giacobbe says the New York Post article suggesting Department of Justice concerns around the merger and the Wall Street Journal article highlighting internal bickering between the two companies cast "incremental doubt" on the proposed merger between Anthem (ANTM) and Cigna (CI). The analyst notes that while he remains hopeful of the deal consummating, the current spread of 32% shows the market has not baked in much probability of a successful union. Giacobbe views both stocks as attractive even without a deal.
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