Feb 16, 2017

Court to review Anthem-Cigna feud

AP file photos

A Delaware corporate court has granted a temporary restraining order that prohibits Cigna from terminating its merger with Anthem. The court will schedule a hearing the week of April 10 to review both sides of what has become an incredibly messy divorce between the two health insurers.

Cigna sued Anthem this week after a federal judge blocked their transaction. Cigna demanded the $1.85 billion break-up fee as well as $13 billion in damages. Anthem countered with its own lawsuit, and took Cigna to task with pointed examples of how Cigna "sabotaged" the deal. One of Anthem's most interesting claims: Cigna did almost nothing on the back end to help combine the companies and refused mediation that was suggested by the court.

What to look for: Anthem's proposed $54 billion acquisition of Cigna has been tumultuous from the start, and now it's a bloodbath. Anthem is still pursuing an expedited appeal, believing the deal can be completed, although most antitrust experts believe otherwise. This court case may come down to how much Anthem will have to pay in the break-up fee. Analysts have said Cigna may have a difficult time getting the other $13 billion.

Go deeper

Coronavirus updates: Market ends worst week since financial crisis

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens.

The stock market ended its worst week since the financial crisis, prompting the Fed to release a statement. Meanwhile, the WHO warned that countries are losing their chance to contain the novel coronavirus and raised its global risk assessment to "very high" Friday.

The big picture: COVID-19 has killed more than 2,860 people and infected more than 84,000 others in over 60 countries and territories outside the epicenter in mainland China. The number of new cases reported outside China now exceed those inside the country.

Go deeperArrowUpdated 3 hours ago - Health

California coronavirus: Latest case has no recent history of international travel

Gov. Gavin Newsom. Photo: Kevork Djansezian/Getty Images

A new case of the novel coronavirus in California was announced on Friday after Gov. Gavin Newsom said Thursday that 33 people had tested positive for the virus, noting the risk to the public remains low.

What's new: An adult woman with chronic health conditions in Santa Clara County who "did not recently travel overseas" or come into contact with anyone known to be ill was confirmed to have contracted the coronavirus on Friday by CDC and California Department of Public Health officials.

Go deeperArrowUpdated 3 hours ago - Health

Big video game conference delayed amid coronavirus concerns

Photo: GDC

Next month's Game Developers Conference in San Francisco became the latest tech event to be cancelled or postponed amid growing concerns over the spread of the novel coronavirus.

The big picture: A growing number of events are being scrapped, including Mobile World Congress and Facebook's F8 developer conference. Some, like the giant SXSW event in Austin, insist they are moving forward.