Anthem is countering Bloomfield, Connecticut-based Cigna a day after its smaller rival sued to terminate a $48 billion buyout agreement.
Indianapolis-based Anthem on Wednesday sought a restraining order to block that maneuver and force it to comply with the deal, which has already been blocked by a federal judge.
The rapid-fire consolidation in the health care industry appears to be hitting a wall. On Tuesday, Aetna said it was abandoning its $34 billion acquisition of Humana. That was followed by the Cigna lawsuit. Both deals drew in the Justice Department and separate federal courts ruled the deals could hurt consumers.
U.S. & World
Cigna Corp. is seeking a $1.85 billion termination fee from Anthem and more than $13 billion in damages.
Anthem Inc. said Wednesday that Cigna doesn't have a right to terminate the agreement.