Similar agreements that would have led to further industry consolidation were blocked by competition regulators in 2017, including a proposed $48B acquisition of Anthem -- now called Elevance Health -- by Cigna. Yet in a note to clients, the Bank of America analysts said that while many investors would likely be cautious about any antitrust concerns surrounding the deal, they see "minimal [...] overlap" between the two businesses. They added that Cigna would likely need to divest its Medicare Advantage business for regulators to sign off on the deal. According to Reuters, Cigna began exploring a sale of the division earlier this month. "While there is risk to approval of the potential deal, ultimately we believe the issues appear solvable," the analysts said. Related Articles Cigna-Humana tie-up would face "regulatory uncertainty" - Bank of America analysts Yellen tours North Carolina lithium plant to bolster Biden's case on US economy Lloyds Banking Group to close four Scottish branches and mobile services