On the morning of May 12, Anthem told Cigna the $54 billion merger deal between the two was dead, Reuters reports.
Here are five things to know:
1. Anthem notified Cigna following its loss in a Delaware business court ruling on Thursday.
2. The Delaware judge denied Anthem's request for a preliminary injunction to deter Cigna from exiting the merger deal.
3. Anthem also told Cigna it would not pay the $1.85 billion merger break-up fee.
4. The Anthem-Cigna merger has been a long, disappointing road, with the U.S. Justice Department successfully blocking the merger in February, citing antitrust concerns.
5. Reuters reports, Anthem released a statement: "Cigna's repeated willful breaches of the merger agreement and its successful sabotage of the transaction has caused Anthem to suffer massive damages."