HALISTER: Cigna Terminates Anthem Deal; Anthem Says Cigna Can’t End Pact

Cigna Terminates Anthem Deal; Anthem Says Cigna Can’t End Pact

(Bloomberg) -- Cigna reached out to Anthem to discuss options but unsuccessful: 8-K.
  • CI reaffirms adj. income from ops 12%-18% growth forecast
  • Expands share buyback authority to $3.7b
  • ANTM says CI doesn’t have rights to terminate pact
    • Remains committed to enforce rights under merger pact; remains committed to closing deal with CI: statement
  • CI seeks payment of $1.85b reverse termination fee, as well as additional damages in an amount exceeding $13b, which includes the lost premium value to Cigna’s shareholders caused by Anthem’s “willful breaches” of the pact
  • ANTM pares gains, drops 1.8%
  • CI pares gains, down 0.4%
  • NOTE: Feb. 13, Anthem Asks for Fast Appeal of Cigna Ruling to Save Merger
  • NOTE: Feb. 2, Cigna Says Capital Ready If Anthem Deal Fails
    • Feb. 9, After Two Megadeals Blocked, Health Insurers Plot Next Moves
  • NOTE: Earlier, Aetna, Humana Abandon $37b Merger Blocked by U.S. Judge
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
ANTM US (Anthem Inc)
CI US (Cigna Corp)
AET US (Aetna Inc)
HUM US (Humana Inc)

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