Anthem and Cigna accused each other of violating the terms of their proposed merger in letters last month, and that’s one of the issues the government brought up in filing an antitrust lawsuit over the deal, Bloomberg reports. Big bucks are involved. There’s the $48 billion deal itself. And then there’s the$1.85 billion Anthem would owe Cigna if the government blocks the merger. Sometimes, it comes down to personalities.
Bloomberg: “The bad rapport between the insurers stems from before the deal was struck, when Cigna rejected Anthem’s initial overtures, in part over a dispute about what role Cigna Chief Executive Officer David Cordani would have at a combined firm. Anthem and Cigna have also held meetings with investors to discuss their prospects if a deal can’t be completed.”