Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  CIGNA Corporation    CI

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets

CIGNA : Court Issues Temporary Order Keeping Cigna From Terminating Merger With Anthem

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/16/2017 | 03:32pm CEST
By Brent Kendall 

A Delaware judge on Wednesday issued a temporary restraining order that blocks Cigna Corp. from immediately terminating its troubled $48 billion merger with rival health insurer Anthem Inc.

The development is the latest in what could be a long and bitter legal battle between the two companies in the wake of a federal judge's ruling earlier this month that the proposed merger violates U.S. antitrust law.

Cigna on Tuesday declared it was done with the merger and sued Anthem, seeking a $1.85 billion breakup fee plus more than $13 billion in damages from its deal partner. Anthem then responded with its own lawsuit and sought an immediate order stopping Cigna from ending their pact.

Anthem obtained such an order Wednesday from Vice Chancellor J. Travis Laster, a judge on the Delaware Chancery Court, according to a Thursday filing by Cigna with the Securities and Exchange Commission.

Under the terms of the merger agreement, Anthem could extend the deal until the end of April. The firm is making a long-shot bid to win a quick appeal of U.S. District Judge Amy Berman Jackson's ruling that the merger would unlawfully harm consumers and competition.

Both Anthem and Cigna have accused one another of violating their 2015 merger deal. Cigna said Anthem's alleged violations meant it couldn't extend the merger agreement until April. Anthem said Cigna has been engaged in a campaign to sink the deal.

Cigna in a statement said, "This is not a decision on the merits of the case, but rather a procedural order to ensure irrevocable actions do not take place before the court's substantive review of the issues. Cigna respects the court's decision and will continue to abide by terms of the merger agreement until the court further reviews the case."

The insurer said another hearing will be scheduled the week of April 10.

Anthem didn't respond to a request for comment on the restraining order.

Write to Brent Kendall at brent.kendall@wsj.com

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on CIGNA CORPORATION
06:08a CIGNA : Earns "Certified" Status for Both Physician and Hospital Quality from Na..
08/18 INSIDER TRADING ACTIVITY CIGNA CORPO : CI) – EVP Sold 2,236 shares of Stoc..
08/15 CIGNA : Recognizes Four Midwest Organizations for Commitment to Employee Health ..
08/12 INSIDER TRADING ACTIVITY CIGNA CORPO : CI) – VP Sold 525 shares of Stock
08/11 CIGNA : Recognizes Alliance Residential Company and City of Scottsdale for Commi..
08/11 INSIDER TRADING ACTIVITY CIGNA CORPO : CI) – Insider Sold 3,700 shares of ..
08/10 CIGNA : Foundation Gives $150,000 Grant and Cigna Donates Vehicle for Mobile Den..
08/10 INSIDER TRADING ACTIVITY CIGNA CORPO : CI) – Insider Sold 37,756 shares of..
08/09 CIGNA : Roots for the Home Team with Sponsorship of the Hartford Yard Goats
08/07 CIGNA : Howard Gough and Cigna’s art of balancing global with local
More news
News from SeekingAlpha
08/17 The Myth Of General Purpose Wearables
08/17 Obamacare subsidies will continue in August
08/16 U.S. government to make August cost-sharing payments to health insurers
08/16 CBO warns on end to health subsidies
08/16 Tracking David Einhorn's Portfolio - Q2 2017 Update
Financials ($)
Sales 2017 41 134 M
EBIT 2017 3 465 M
Net income 2017 2 463 M
Debt 2017 590 M
Yield 2017 0,01%
P/E ratio 2017 18,43
P/E ratio 2018 16,01
EV / Sales 2017 1,10x
EV / Sales 2018 1,03x
Capitalization 44 572 M
Chart CIGNA CORPORATION
Duration : Period :
CIGNA Corporation Technical Analysis Chart | CI | US1255091092 | 4-Traders
Technical analysis trends CIGNA CORPORATION
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 192 $
Spread / Average Target 8,7%
EPS Revisions
Managers
NameTitle
David Michael Cordani President, Chief Executive Officer & Director
Isaiah Harris Chairman
Eric Palmer Chief Financial Officer
Alan M. Muney Chief Medical Officer
Mark L. Boxer Global Chief Information Officer & Executive VP
Sector and Competitors
1st jan.Capitalization (M$)
CIGNA CORPORATION32.72%44 572
UNITEDHEALTH GROUP19.23%184 496
AETNA INC24.55%51 293
ANTHEM INC32.87%50 159
HUMANA INC21.20%35 736
CENTENE CORP47.74%14 400