Pennsylvania To Review Insurance Merger

Law360, New York (May 1, 2007, 12:00 AM EDT) -- Pennsylvania’s two largest insurance companies have formally requested that the Pennsylvania Department of Insurance review their proposed $120 million merger to ensure that the deal does not violate antitrust statutes.

Independence Blue Cross and Highmark Inc. submitted documents to the insurance commission on Friday asking the department to approve a change in the control of their subsidiaries that would take effect after the merger is complete.

In the filing, the companies said a merger would allow them to hold down costs and invest in new technologies....
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