M&A activity was also heating up in the health insurer industry, with the CFO of Anthem Inc. (NYSE:ANTM) suggesting the company could make a “meaningful” acquisition. Thereafter, Anthem entered negotiations to buy Cigna. In addition to this strategy, Anthem also announced strong earnings, deploying capital in the form of share buybacks and dividends.
From Bernard Horn (Trades, Portfolio)'s Global Value Fund annual letter 2015.
