A chancery court judge in Delaware is set to decide whether Anthem or Cigna is owed money in a breakup battle that ensued in the two years after their failed merger, according to the CT Mirror.
A trial over whether Anthem or Cigna owes the other billions after the botched merger attempt began Feb. 25. While Cigna argues it’s owed more than $16 billion as the injured party, Anthem claims it’s owed $20 billion because Cigna sabotaged the deal.
Delaware Chancery Court Judge Travis Laster is tasked with deciding which party wins the case and how much the other insurer may owe. Larry Hamermesh, executive director of the University of Pennsylvania’s Institute for Law and Economics in Philadelphia, told the CT Mirror that Anthem and Cigna are both big enough to weather a payment, should they need to.
Date: March 19, 2019