Blue Cross Blue Shield companies weighed increasing a breakup fee for a proposed Anthem-Cigna deal to as high as $10 billion, according to Law360.
The consideration was revealed during a trial over whether Anthem or Cigna owes the other billions after the botched merger attempt. While Cigna argues it's owed more than $16 billion as the injured party, Anthem claims it's owed $20 billion because Cigna sabotaged the deal.
Under the original agreement, Anthem and Cigna agreed to a $1.85 billion breakup fee if the ill-fated $54 billion deal collapsed.
During court testimony March 4, Anthem lawyers alleged that Cigna CEO David Cordani privately voiced regrets about agreeing to merge with Anthem, despite publicly backing the deal as good for investors.
The case is being heard in Delaware Chancery Court in Wilmington.
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