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Health insurer Anthem says Cigna cannot terminate merger agreement
February 14, 2017 / 8:26 PM / 10 months ago

Health insurer Anthem says Cigna cannot terminate merger agreement

WASHINGTON (Reuters) - Health insurer Anthem Inc (ANTM.N) said on Tuesday that Cigna Corp (CI.N) could not unilaterally terminate an agreement between the two companies to merge.

FILE PHOTO -- A sign at the office building of health insurer Anthem is seen in Los Angeles, California February 5, 2015. REUTERS/Gus Ruelas/File Photo

    “Under the terms of the merger agreement, Cigna does not have a right to terminate the agreement. Therefore, Cigna’s purported termination of the merger agreement is invalid,” Anthem said in a statement.

    Cigna had said earlier on Tuesday that it would terminate the planned deal after a federal judge ruled on Feb. 8 that the deal was illegal under antitrust law.

    Reporting by Diane Bartz; Editing by Bernard Orr

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