Del. Justices Ax Cigna’s $1.8B Fee Bid In Failed Anthem Deal

Bizar Male
Law360 (May 3, 2021, 10:57 AM EDT) — Delaware’s Supreme Court rejected without elaboration on Monday Cigna Corp.’s bid for a $1.85 billion deal termination fee tied to the collapse of its $54 billion merger with Anthem Inc. in 2017.

In a brief order, Justice Karen L. Valihura, writing for the full five-member court, rejected Cigna’s appeal based on Vice Chancellor J. Travis Laster’s post-trial decision on Aug. 31, 2020, and on briefs filed ahead of appellate argument on April 14.

A U.S. district court judge enjoined the deal based on U.S. Department of Justice antitrust objections in 2017, but the two big insurers had soured on the merger…

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