Cigna terminates $48bn merger with Anthem.

Cigna, a health insurer, had terminated the $48bn merger with Anthem, a provider of health insurance in the United States. To effect this termination, Cigna has filed suit against Anthem in the Delaware Court of Chancery. The suit seeks declaratory judgment that Cigna has lawfully terminated the merger agreement and that Anthem is not permitted to extend the termination date. Anthem has launched its own lawsuit against Cigna, claiming the company has sabotaged the merger in its attempts to breach the agreement and collapse the $48bn deal.