Lawyers and bankers reap $1.5 billion from failed health insurance mergers
Those massive health insurance mergers may be dead, but the lawyers and investment bankers who worked feverishly to get the deals approved still walked away with big paychecks.
Aetna, Anthem, Cigna and Humana cumulatively spent about $1.5 billion on legal and financial fees since their proposed mergers were announced in summer 2015, according to documents filed with the Securities and Exchange Commission. That price tag covers the fights over Aetna's $37 billion merger attempt with Humana and Anthem's $53 billion bid for Cigna, both of which were slapped down by the courts. Read on to see where the money went.