Indianapolis-based Anthem filed a lawsuit to block Broomfield, Conn.-based Cigna from terminating its proposed $54 billion merger agreement, Reuters reports.
Here's what you need to know.
1. Cigna filed a suit Feb. 14, 2017, seeking to end the merger agreement and collect up to $14.85 billion in damages and breakup fees.
2. Anthem released a statement on Feb. 14, 2017, saying Cigna's termination attempt was invalid. Anthem announced on Feb. 15, 2017, it was filing a counter suit that would attempt to block Cigna's suit.
Anthem said in a release, "Cigna's lawsuit and purported termination is the next step in Cigna's campaign to sabotage the merger and to try to deflect attention from its repeated willful breaches of the Merger Agreement in support of such effort."
3. A federal district court ruled against the merger on Feb. 8, 2017, citing the combined payers would limit competition as a primary reason for the ruling.
4. Anthem said it is "committed" to completing the merger through a successful appeal or by settling with the Department of Justice.