(Reuters) - Cigna Corp said on Sunday that Anthem Inc's "highly conditional, non-binding proposal" is inadequate and that it is not in the best interest of Cigna shareholders.
On Saturday ANTHEM (ANTM.NY)aid it had offered $47 billion in cash and stock for Cigna, its smaller rival.
In a letter to Anthem's board, CIGNA (CI.NY)aid it was "deeply disappointed" with Anthem's recent actions.
(Reporting by Jennifer Saba in New York; Editing by Nick Zieminski)
