A Delaware judge ruled Thursday that Cigna may walk away from its proposed $48 billion merger with Anthem, declining to force Cigna to push through with the deal.
Cigna has been trying to get out of the insurance companies’ merger since February, and the judge’s ruling could result in Anthem paying Cigna $1.85 billion in break-up fees, as well as $13 billion in damages. Anthem has until noon on Monday to decide whether it will pursue an appeal to the Delaware Supreme Court.
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