Business Services Industry
Speculation Continues about Possible Takeover of Health Insurer CIGNA.
Knight Ridder/Tribune Business News, January, 2004
By Diane Levick, The Hartford Courant, Conn. Knight Ridder/Tribune Business News
Jan. 22--A Merrill Lynch analyst Wednesday bolstered recent speculation that CIGNA Corp. may be a takeover target, but industry sources say there probably isn't much acquirer interest in the troubled company.
Merrill Lynch reinstated coverage of CIGNA with a report by analyst Doug Simpson, who said that "given CIGNA's situation, it might be reasonable to think of it as a potential acquisition target." However, Simpson also said the company's size limits the number of potential buyers, and he didn't name any.
Also, because CIGNA is in a "transition period" in its turnaround efforts, any premium to market value in a sale price "would be relatively modest,"...
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