CIGNA TERMINATES ANTHEM DEAL

On February 14, 2017, CIGNA announced it was formally terminating its merger deal with Anthem.  This announcement comes one day after Anthem filed paperwork with the District of Columbia circuit to expedite its appeal of the recent decision that granted the DOJ’s request for preliminary injunction.  CIGNA has also sued Anthem in Delaware Chancery Court for payment of the $1.85 billion reverse termination fee included in the deal, as well as for damages, totaling over $13 billion, for shareholder losses based on the failed merger.

The Law 360 article detailing the suit, and statement from CIGNA can be found here.