Judge rules Cigna can abandon $54B mega-merger with Anthem

A Delaware judge denied Indianapolis-based Anthem's request for a preliminary injunction Thursday to stop Bloomfield, Conn.-based Cigna from leaving the insurers' $54 billion merger deal, according to Bloomberg.

Here are four things to know.

1. The decision means Cigna can walk away from the proposed merger with Anthem. It also means Anthem could owe Cigna $14.85 billion in break-up fees and damages, according to the report.

2. Vice Chancellor Travis Laster of Delaware's Court of Chancery, who denied the 60-day injunction, said Anthem's outlook for completing the deal is dim.   

3. Mr. Laster's decision comes nearly three months after the deal was blocked over antitrust concerns. A U.S. Court of Appeals for the District of Columbia affirmed the decision April 28. Anthem has since filed a petition calling for a Supreme Court review of the decision.

4. Anthem and Cigna spokespeople did not immediately respond to Bloomberg's request for comment. 

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