U.S. DoJ Reportedly Says Anthem-Cigna Deal 'threatens Competition'

(RTTNews) - The U.S. Justice Department has told Anthem Inc. (ANTM) that the health insurer's planned takeover of Cigna Corp. threatens competition and probably can't be fixed by selling parts of their businesses, according to media reports citing people familiar with the matter.

The companies met Friday with Bill Baer, the department's No. 3 official, in a bid to get their $48 billion deal approved and hear about the government's concerns.

The Justice Department has indicated that it's open to hearing about proposals from the company to resolve the problems. Still, its skepticism that the deal can be fixed raises the likelihood that the U.S. will sue to block it. The government is on track to make a decision on the combination by around mid-July.