The lack of drama at today’s Senate hearing on health insurance company consolidation could be exciting news for investors and others who want the big deals already announced to close.
Brian Wright, a securities analyst at Sterne Agee CRT who attended the hearing, gave that assessment in a comment on the proceedings. Wright told his firm’s clients that he was impressed by the “balanced nature of the discourse and questions.”
“There were no heated exchanges or real sparks,” Wright said.
The Senate Judiciary antitrust subcommittee held the hearing to look at efforts by Aetna Inc. (NYSE:AET) to acquire Humana Inc. (NYSE:HUM), and by Anthem Inc. (NYSE:ANTM) to acquire Cigna Corp. (NYSE:CI).
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Mark Bertolini, chief executive of Aetna, appeared to defend the Humana deal, and Joseph Swedish, president of Anthem, came out to defend the Cigna deal.