With the Anthem Inc.-Cigna Corp. merger now all but dead, speculation about the next health-insurance megadeal — and the Trump administration's tolerance for such transactions — has begun.

Anthem's $48 billion plan to buy Cigna and the now-defunct $37 billion deal that would have combined Aetna Inc. and Humana Inc. were both shot down by former President Barack Obama's justice department on antitrust grounds.

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