Anthem Inc. struck a deal to buy rival Cigna Corp. for $48.4 billion, wrapping up almost a year of contentious negotiations and potentially creating the largest health insurer in the U.S.

Anthem will pay $188 a share in cash and stock for Cigna, based on Anthem’s May 28 closing share price, the Indianapolis- based insurer said Friday in a statement. That’s 22 percent more than Cigna’s closing price on Thursday. The deal combines the second- and fourth-biggest insurers in the U.S., measured by members.

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