Anthem Denied Injunction To Keep Cigna In $54B Merger

Law360, New York (May 11, 2017, 4:59 PM EDT) -- A Delaware Chancery judge late Thursday rejected Anthem Corp.'s bid for a 60-day block on Cigna Inc.'s declared intent to terminate what was once a $54 billion merger of the two health insurers, saying Anthem's prospects for overcoming multiple challenges to the deal are slim.

Vice Chancellor J. Travis Laster stayed his ruling until noon on Monday, however, to allow Anthem time to decide on an appeal to the Delaware Supreme Court, with an additional delay possible pending a high court decision — if it accepts the appeal — on issuing its own stay.

"If Anthem is correct in its view...

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