UnitedHealth tables bid for Aetna

US health insurer UnitedHealth launched a takeover offer overnight for rival Aetna, in a deal that would likely be valued at more than $40, the Wall Street Journal reported on Tuesday citing people familiar with the matter.

However, the price-tag remained unknown.

The approach, made through a letter, came a day after US health insurer Cigna rebuffed a takeover offer from large rival Anthem for about $45bn, who had tabled two take-over bids within the last ten days.

Read more: Health-care deal activity heats up as Anthem launches second bid for rival

US health insurers are looking to buy smaller rivals to merge and cut costs, as the companies cope with increased competition from government programs and exchanges tied to the Affordable Care Act, also known as “Obamacare”, through which 12 million Americans can now obtain subsidised access to healthcare coverage.

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