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Anthem-Cigna Merger Officially Dead

Anthem Inc.’s nearly two-year effort to buy rival insurer Cigna Corp. is officially dead. Now, the two would-be partners are suing each other...
May 17, 2017

Anthem-Cigna

Anthem Inc.’s nearly two-year effort to buy rival insurer Cigna Corp. is officially dead. Now, the two would-be partners are suing each other.

Anthem said Friday that it won’t appeal a Delaware judge’s ruling late Thursday that Cigna can walk away from the $48 billion health insurance merger. That leaves the companies to fight over who’s to blame for the deal’s collapse.

Anthem could be on the hook for a $1.85 billion breakup fee to Cigna. Cigna is also seeking $13 billion in damages. Anthem has countersued, and said that Cigna isn’t entitled to a termination fee and that it will pursue damages, too.