July 30, 2015 / 1:50 PM / 3 years ago

Cigna CEO says has begun talks with regulators about Anthem deal

David Cordani, Chief Executive Officer and President of CIGNA Corp in New York, May 6, 2013. REUTERS/Shannon Stapleton

NEW YORK (Reuters) - Cigna Corp (CI.N) CEO David Cordani said on Thursday that the company has begun conversations with regulators, including state regulators and antitrust regulators, about its $47 billion agreement to be purchased by Anthem Inc. (ANTM.N).

Speaking on CNBC, Cordani said that the company expects a 12 to 18 month regulatory review process.

Antitrust experts have said that regulators are likely to ask the companies to sell some assets in regional areas where the two companies have high market share.

Concerns about antitrust review have led to some skepticism of the deal. Anthem’s cash and stock offer is worth $183.40 but its shares closed on Wednesday at $145.41, about 26 percent below that level.

Reporting by Caroline Humer; Editing by Chizu Nomiyama

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