A Delaware Chancery Court judge ruled in favor of Indianapolis-based Anthem and momentarily banned Bloomfield, Conn.-based Cigna from motioning to end the $54 billion merger agreement between the two payers, Bloomberg reports.
Judge Travis Laster said Wednesday Cigna could not abruptly terminate the deal after a U.S. District Court opposed the transaction due to antitrust concerns. Judge Laster said the temporary stalling of Cigna's move to end the merger maintains the "legal status quo" of the payers' agreement until an April 10 hearing regarding the deal, according to the report.
Since Cigna's motion to terminate the agreement was blocked, Anthem can now appeal the District Court's Feb. 8 ruling. Anthem is looking for a quick review by the appeals court in light of the April 30 deadline to consummate the deal, according to the report.
Bloomberg said Anthem and Cigna did not respond to its request for comment.