A proposal to relegate Cigna Corp.’s top executive to a reduced role following a merger with Anthem Inc. inflamed an all-out war between the two companies, Anthem’s former chief executive testified in a Delaware trial over the deal’s collapse.
After agreeing to Anthem’s proposed $49 billion buyout, Cigna’s chief executive officer, David Cordani, stopped cooperating with efforts to win antitrust approval for the deal after learning he wouldn’t lead the company, said Joseph Swedish, who stepped down as Anthem’s top executive in 2017. Anthem has cited the lack of cooperation as a reason the merger was never finalized.
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