Cigna rejected Anthem's takeover bid, citing antitrust concerns.
TheStreet's Jim Cramer, Portfolio Manager of the Action Alerts PLUS Charitable Trust Portfolio says, "Consolidation is great for this industry if the government allows it. There is a presumption that it will."
"I do not know where that confidence comes from," Cramer added.
Cigna said the bid is not in the best interest of shareholders.
On Saturday, Anthem offered $184 per share in cash and stock for Cigna.
Anthem made its offer public to encourage Cigna shareholders to push the company, according to The Wall Street Journal.
Indianapolis-based Anthem is a health benefit company in terms of medical membership in the U.S.
The company manages its operations through three segments including commercial, consumer, and other.
Separately, TheStreet Ratings team rates ANTHEM INC as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate ANTHEM INC (ANTM) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures. We feel its strengths outweigh the fact that the company shows low profit margins."