Anthem sues Cigna to block deal termination

Anthem has filed suit seeking to block smaller rival Cigna from terminating the companies' proposed $54 billion merger.

Yesterday, Cigna officials said the company notified Anthem it canceled the deal. Cigna also is seeking a $1.9 billion break-up fee from Anthem.

Cigna also filed suit to uphold its decision to end the deal. It also seeks $13 billion in damages for shareholders who did not receive a takeover premium.

Last week, a federal judge ruled against Anthem's proposed buyout of Cigna.

Read more from Reuters.