Merger Savings Defense Gains Toehold From Anthem Ruling

Law360, Fort Wayne (May 2, 2017, 8:01 PM EDT) -- The D.C. Circuit ruled recently that more than $2 billion in claimed savings could not salvage the $54 billion Anthem-Cigna deal from an antitrust challenge by the government, but the court left an opening for companies to assert that efficiencies can redeem an otherwise anti-competitive merger.

So far, no district court that has considered the question has found that efficiencies were sufficient to offset the competitive harm of a deal. Some circuit court judges, including Circuit Judge Judith W. Rogers, who wrote the majority opinion in...
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