Anthem Seeks Court Order To Enjoin Cigna From Terminating Merger Agreement

(RTTNews) - Anthem, Inc. (ANTM) announced it has filed a lawsuit seeking a temporary restraining order to enjoin Cigna from terminating, and taking any action contrary to the terms of, the Merger Agreement. Anthem said its action is in response to Cigna's purported termination and lawsuit and ongoing campaign to sabotage the Merger. Anthem said, in addition to filing this lawsuit, the company is pursuing an expedited appeal of the District Court's decision and is committed to completing the merger either through a successful appeal or through settlement with the new leadership at the Department of Justice.

Anthem said Cigna does not have a right to terminate the Merger Agreement at all because it has failed to perform fully its obligations in a manner that has proximately caused or resulted in the failure of the merger to have been consummated. Anthem believes that there is still sufficient time and a viable path forward potentially to complete the transaction. On January 18, 2017, Anthem extended its Merger Agreement with Cigna through April 30, 2017.