Medicare

Cigna moves to terminate merger with Anthem and seeks $14.8 billion

Cigna moves to terminate merger with Anthem and seeks $14.8 billion

Health insurer Cigna Corp. announced Tuesday that it will unilaterally terminate its $54-billion merger agreement with Anthem Inc. after a federal judge rejected the deal. The news came hours after insurance giants Aetna Inc. and Humana Inc. announced a mutual decision to abandon their $37-billion merger agreement.

An Anthem spokeswoman said the company is still committed to closing its deal with Cigna, signaling that the breakup could be messy. In a news release, Cigna announced it had filed a lawsuit in Delaware Chancery Court against Anthem seeking a judgment that the merger agreement had been terminated lawfully and seeking a $1.85-billion termination fee, along with $13 billion...

60°