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US: Anthem files motion to bar Cigna from terminating $54B merger

 |  April 24, 2017

Anthem has filed a motion with the Delaware Court of Chancery for a preliminary injunction that would prevent Cigna from terminating their $54 billion merger on April 30 – the health insurance giants’ contractual deadline, according to a Law360 report.

A hearing for the preliminary injunction is set for May 8, the report added. Cigna filed a lawsuit against Anthem in February seeking that it pay at least $14 billion in damages and a statement that the deal had been lawfully terminated.

A brief detailing the company’s argument remained under seal late last week, along with many other motions and documents submitted by the two companies in the Chancery proceedings.

Full Content: Law 360

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