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Wall Street expressed growing doubts about a pending $54 billion merger of U.S. health insurers Anthem Inc and Cigna Corp on Monday as news of management squabbles added to concerns over its review by antitrust regulators. Cigna shares closed down 4 percent at $126.15, well below Anthem's original $188 per share offer of cash and stock announced last July. Anthem shares fell 1.8 percent to $133.18. (5/24)

U.S. opposition to proposed mergers in the pay-TV, mobile-phone and airline industries suggests a tough battle ahead for two health insurer deals: Anthem Inc.’s takeover of Cigna Corp. and Aetna Inc.’s bid for Humana Inc. It’s the job of antitrust officials to make sure that deals don’t harm competition, and they commonly do that by evaluating local markets for conflicts. ...But antitrust enforcers with the Obama administration’s Justice Department and Federal Trade Commission have shown a willingness to change that playbook and take a wider look at competition. (McLaughlin, 5/23)

The Wall Street Journal got a hold of correspondence Monday that suggests there may be some tension between insurance giants Anthem and Cigna, two companies that have proposed a $48 billion merger. (Gorenstein, 5/23)