Global Research Firm Endorses Anthem, Cigna Deal

The resulting business will be based at Anthem's Indianapolis headquarters.

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A global governance research company has issued a report recommending that Indianapolis-based Anthem Inc. (NYSE: ANTM) shareholders approve the $54 billion acquisition of Cigna Corp. (NYSE: CI). Institutional Shareholder Services’ report comes ahead of a special meeting next month where shareholders will vote on the proposal.

The pending merger would result in a combined company with 53 million members and an estimated revenue of $115 billion. It’s expected to close in the second half of next year.

?Anthem Chief executive Officer Joe Swedish will lead the combined company. He says he’s happy ISS, after studying the acquisition, "urged shareholders to support this compelling combination." He says the businesses are "highly-complementary with very limited overlap in the geographies and market segments in which we operate."

The special shareholders meeting is scheduled for Thursday, December 3 at 8:00 a.m. at the Conrad Hotel in downtown Indianapolis.