GLOBALES: Anthem tells Cigna the deal is off, refuses to pay break-up fee - EntornoInteligente

Reuters / NEW YORK Anthem Inc ( ANTM.N ) said on Friday it notified Cigna Corp ( CI.N ) that the $54 billion merger deal was off after it lost a Delaware business court ruling on Thursday and also said it would not pay Cigna the $1.85 billion merger break-up fee.

Anthem and Cigna have been in legal disputes since the U.S. Justice Department won its case to block the merger of the two health insurers on antitrust grounds. Cigna was suing in Delaware to terminate the merger while Anthem pursued appeals of the antitrust decision.

“Cigna?s repeated willful breaches of the merger agreement and its successful sabotage of the transaction has caused Anthem to suffer massive damages,” Anthem said in a statement.

(Reporting by Caroline Humer; Editing by Bernard Orr)

GLOBALES: Anthem tells Cigna the deal is off, refuses to pay break-up fee

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