What was the outcome of the Cigna Anthem merger?

What was the outcome of the Cigna Anthem merger?

What was the outcome of the Cigna Anthem merger?

Anthem Inc. secured its win Monday against Cigna Corp.'s quest for a $1.85 billion breakup fee over the collapse of their planned $54 billion merger, which would have created the world's largest health insurer, when Delaware's top court upheld a decision rejecting the fee bid.

Is Cigna related to Anthem?

Anthem and Cigna agreed to merge in 2015.

Why did Anthem and Cigna merger fail?

In 2018 an Anthem shareholder filed a similar lawsuit against current and former Anthem leadership, alleging a breach of fiduciary duties and corporate waste linked to the merger agreement – a case that, according to Anthem's quarterly report, had been stayed while the two organizations awaited final word from the ...

Who owns Anthem Blue Cross?

The company was formed by the 2004 merger of WellPoint, based in California, and Anthem, based in Indianapolis, after both companies acquired several health insurance companies....Anthem (company)
Company headquarters on Monument Circle in Indianapolis
ProductsHealthcare services Health insurance
RevenueUS$121.9 billion (2020)

How much is the deal between Anthem and Cigna?

  • In another merger of health insurance giants, Anthem has agreed to acquire Cigna in a $54 billion deal. Moody's said Anthem would assume $5.1 billion in Cigna's notes, and that its review "will focus on the completion of the transaction and the impact on Anthem's ratings.".

What kind of health insurance does anthem offer?

  • Anthem offers health insurance as a Blue Cross Blue Shield affiliate. Fran Majidi manages content on SmartFinancial's website. She's had nearly a decade's worth of experience writing about insurance-related topics. Prior, she was an arts and entertainment editor in New York City.

Why did anthem refuse to pay the breakup fee?

  • Shortly after a Delaware appeals court ruled against the merger, Anthem called off the deal, but refused to pay the breakup fee. Anthem sought $21 billion, claiming Cigna sunk the deal on purpose by not pushing back on the DOJ’s opposition.

Why did Cigna merge with Express Scripts in 2018?

  • In 2018, Cigna completed its merger with Express Scripts to improve affordability and choice. Together they invested $200 million to support local communities on topics of health. They also launched Healthier Kids for Our Future to improve the health and well-being of children across the globe.

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