Anthem hopes to close Cigna deal under Trump DOJ

Despite a preliminary injunction and an unwilling partner standing in the way, Anthem is still clinging to the possibility of closing its $54 billion merger with Cigna by settling with a new Justice Department under the Trump-led administration that it hopes will cut it some slack and greenlight the deal. Last week, Anthem won a temporary restraining order in the Delaware Court of Chancery to keep Bloomfield, Conn.-based Cigna from terminating its agreement to merge with Anthem.

Anthem argued for the temporary restraining order enjoining Cigna from killing the merger agreement on the grounds that Anthem wouldn't be able to “negotiate a settlement, with or without divestitures, with a new DOJ" if there were no merger deal to negotiate. While Cigna argued that the deal is dead and impossible to resurrect, Anthem nevertheless was able to convince the court that it stands a chance under the new administration, and that allowing Cigna to terminate the merger agreement would prevent Anthem from exhausting every avenue to close the deal.

SOURCE: Source
INDUSTRY NEWS TAGS: Other Healthcare News

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