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Anthem stops trying to buy Cigna, keeps fighting over damages

Anthem stops trying to buy Cigna, keeps fighting over damages

Anthem Inc. is finally ending its soured, $48-billion bid to buy rival Cigna Corp., but the nation's second-largest health insurer isn't giving up a fight over whether Cigna deserves a termination fee for the scrapped deal.

Anthem said Friday that Cigna sabotaged the merger agreement and caused “massive damages” for Anthem, which provides Blue Cross-Blue Shield coverage in several states. It said it plans to “vigorously pursue” its claims against Cigna.

Bloomfield, Conn.-based Cigna said in response that Anthem “willfully breached” its obligation to get regulatory approval. It plans to seek prompt payment of a $1.85-billion termination fee and more than $13 billion in damages...

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