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Anthem gives up Cigna bid, vows to fight on over damages

INDIANAPOLIS (AP) - Anthem is finally ending its soured, $48 billion bid to buy rival Cigna, but the nation's second-largest health insurer isn't giving up a fight over whether Cigna deserves a termination fee for the scrapped deal. Anthem says Cigna sabotaged the merger agreement and caused "massive damages" for Anthem, which provides Blue Cross-Blue Shield coverage in several states. The Indianapolis-based insurer announced its decision Friday, a day after a Delaware judge refused its request to extend a ban blocking Cigna from pulling out of the deal. The deal, announced in 2015, has already been rejected by a federal judge and an appeals court. Anthem Inc. said last week that it would seek a Supreme Court review of the case. Cigna has sought a $1.85 billion termination fee and damages from Anthem. (Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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