Indianapolis-based Anthem requested an additional 60 days to gain approval for its merger with Bloomfield, Conn.-based Cigna, in an effort to stop Cigna from ditching the deal and collecting a $1.85 billion break-up fee, Reuters reports.
On April 28, the U.S. Court of Appeals for the District of Columbia affirmed a district court decision blocking the $54 billion proposed merger between the health insurance giants. Anthem filed a petition May 5 calling for a Supreme Court review of the decision.
As Anthem awaits a decision from the Supreme Court, the company is seeking a 60-day preliminary injunction from Vice Chancellor Travis Laster of Delaware's Court of Chancery to block Cigna from ending the deal, the report states. Mr. Laster said he would make a decision on the request as soon as possible, after hearing roughly five hours of arguments.
Anthem's attorney, Glenn Kurtz of White & Case, said he hoped the Supreme Court would decide if it would address the case before July, Reuters reports. Mr. Kurtz added Anthem will attempt to reach a settlement with the U.S. Department of Justice after officials appointed by the Trump administration are in place.