Del. Justices Asked To Back $1.8B Cigna-Anthem Breakup Fee :

Del. Justices Asked To Back $1.8B Cigna-Anthem Breakup Fee


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Del. Justices Asked To Back $1.8B Cigna-Anthem Breakup Fee
Law360 (April 14, 2021, 4:36 PM EDT) -- An attorney for Cigna Corp. argued Wednesday that Delaware's Supreme Court could create "commercial unpredictability" in state contract law if it upholds a Chancery Court's refusal to order Anthem Inc. to pay a $1.85 billion fee for terminating a $54 billion merger with Cigna in 2017.
William Savitt of Wachtell Lipton Rosen & Katz made the point early in Cigna's appeal of Vice Chancellor J. Travis Laster's finding last year that neither his client nor Anthem are due damages for the breakup.
The vice chancellor, who oversaw a 10-day trial in 2019, found that a D.C. federal court's permanent injunction in...

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