(Updated - June 15, 2015 12:03 PM EDT)

Anthem (NYSE: ANTM) and Cigna Corp. (NYSE: CI) are popping higher. Dow Jones reports that Anthem was said to make a takeover approach for Cigna. Anthem was said to offer $175 per share for Cigna, which Cigna rebuffed.

$175 would be a 27.5 percent premium to Cigna's close at $137.31 last Friday.

Cigna shares are halted, but up 6.2 percent on Monday's session.