The American health insurance market might soon become even smaller.
Anthem, one of the country’s biggest health insurers, is closing in on a deal to buy Cigna after slightly sweetening its previous takeover offer, people briefed on the matter said on Wednesday.
The offer being discussed is worth about $187 a share, which would value Cigna at about $48 billion, one of the people said. Anthem previously offered $184 a share.
The two sides could announce an agreement this week, these people added, although discussions were proceeding and could fall through.
Should the two insurers reach a deal, it would be the latest sign of the consolidation sweeping the American health insurance industry, coming weeks after Aetna agreed to buy Humana, the smallest of the big five insurers, for $37 billion.