A trial over whether Anthem or Cigna owes the other billions after their botched merger attempt begins Feb. 25, according to Bloomberg Quint.
Three things to know:
1. In 2015, Anthem extended an offer to acquire Cigna in a $48.9 billion cash and stock deal. However, the deal ended two years later due to antitrust concerns.
2. The insurers are now in court debating which one was responsible for the deal’s failure and potentially owes the other billions, according to Bloomberg Quint. While Cigna argues it’s owed $15 billion as the injured party, Anthem claims it’s owed $20 billion because Cigna sabotaged the deal.
3. A Delaware judge will start the 10-day trial Feb. 25, which will include testimony from Blue Cross Blue Shield Association CEO Scott Serota. Mr. Serota is expected to testify about Cigna’s accusation against Anthem that it did not try its best to address antitrust concerns, according to the report.
Date: February 26, 2019