February 15, 2017 / 11:20 AM / 8 months ago

Anthem sues Cigna to block deal termination

Feb 15 (Reuters) - Anthem Inc said on Wednesday it has filed a lawsuit seeking a temporary restraining order to enjoin Cigna Corp from terminating its $54 billion deal.

Cigna said on Tuesday it had notified Anthem that it had terminated its merger and that Anthem was required to pay a $1.85 billion breakup fee.

Cigna also filed a lawsuit in Delaware on Tuesday, asking a judge to declare its decision to terminate the deal as legal and to approve $13 billion in damages for shareholders who did not receive the takeover premium.

Anthem said on Wednesday it believes that there is still sufficient time to complete the transaction. (Reporting by Ankur Banerjee in Bengaluru)

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