Neither Anthem nor Cigna will get billions in breakup fees and damages from the fallout of their proposed combination, a Delaware judge said Aug. 31 in an opinion cited by Bloomberg.
Cigna was seeking about $15 billion in damages and termination fees, while Anthem argued it was owed $21 billion. Anthem had accused Cigna of purposefully sinking the deal by not challenging the Justice Department's rebuttal of the merger.
Ultimately, Chancery Court Judge Travis Laster said Cigna had breached its obligations, but it was likely the deal would have been blocked due to antitrust concerns anyway.
Read more here.
More articles on payers:
Aetna fined for denying ER claims in California
BCBS of Tennessee threatens to sue data firm over report finding provider overcharges
24 payer exec moves in August