An ongoing legal battle over whether Anthem or Cigna owes the other billions in termination fees may be coming to an end.
During a Feb. 6 fourth-quarter earnings call with investors, Cigna CEO David Cordani said the litigation with Anthem is "on course to resolve itself by the end of this calendar month." According to a transcript of the call, Mr. Cordani said, "We feel very strong about our position relative to our contractual responsibility and contractual ability to collect our break fee."
In 2015, Anthem extended an offer to acquire Cigna in a $48.9 billion cash and stock deal. However, the deal ended two years later due to antitrust concerns. A trial over who should pay the breakup fee began in February 2019.