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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

23 mins ago - World

Scoop: Blinken protests Israel settlements approval in "tense" phone call

Benny Gantz (L) and Tony Blinken. Photo: Jacquelyn Martin/Pool/AFP via Getty

Secretary of State Tony Blinken protested the decision to approve 3,000 new housing units in Israeli settlements in the occupied West Bank during a tense phone call on Tuesday with Israeli Defense Minister Benny Gantz, three Israeli officials tell me.

Why it matters: This is the first time new construction in the settlements has been approved since President Biden assumed office, and the Biden administration had been privately pressing the Israeli government not to proceed.

Senate Democrats unveil new income tax for billionaires

Sen. Ron Wyden. Photo: Drew Angerer/Getty Images

Senate Democrats on Wednesday released a billionaires' tax proposal, designed to help support President Biden's social spending and climate change legislation.

Why it matters: Sen. Ron Wyden (D-Ore.), chairman of the Senate Finance Committee, said the Billionaires Income Tax would raise "hundreds of billions of dollars" and would affect approximately 700 taxpayers who have more than $1 billion in assets or incomes of over $100 million a year.

The startup that wants to disrupt big internet providers

Illustration: Maura Losch/Axios

A new startup backed by funding from AOL founder Steve Case and Laurene Powell Jobs wants to break up broadband monopolies across the country.

Why it matters: Internet access has been crucial during the pandemic, but it's not ubiquitous, and it can be both slow and unaffordable in swaths of the country.

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