Cigna Rejects Anthem’s $48 Billion Acquisition Bid and Sues for Damages

Cigna claims it is rejecting Anthem&#8217s proposed $ forty eight billion acquisition bid and suing the Blue Cross-Blue Shield insurance company.

The announcement comes several hours following yet another main insurance provider, Aetna, mentioned it was abandoning its planned $ 34 billion acquire of Medicare Benefit provider Humana.

The Department of Justice sued very last summertime to cease the discounts due to considerations about how they would have an effect on prices and customer alternatives. Federal judges rejected both offers in different rulings before this 12 months.

Anthem Inc. experienced submitted paperwork Monday to charm its situation.

Cigna Corp. states it is in search of a $ 1.eighty five billion termination charge from Anthem and a lot more than $ thirteen billion in damages induced by what it claims ended up Anthem&#8217s breaches of the merger settlement.

An Anthem spokeswoman did not instantly return a call in search of remark.

Overall health – TIME

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