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Unsealed testimony uncovers more discord between Anthem, Cigna over merger — 6 highlights

A recent unsealed testimony revealed Anthem and Cigna are not on the same page over their proposed merger, according to The Wall Street Journal.

Here are six highlights:

1. The testimony was previously sealed, but U.S. District Judge Amy Berman Jackson ordered the seal be removed after WSJ and six other media organizations objected to the seal.

2. The transcripts between the two companies showed the two are disagreeing over how the company should operate if the merger came to fruition. The documents show some Anthem executives have started making plans without Cigna's input as Cigna stopped working with them on different issues related to the merger.

3. WSJ reviewed the testimony which showed Anthem Chief Executive Joseph R. Swedish said the company created a confidential team to work on the merger without Cigna's knowledge. Following this revelation, Judge Jackson asked Mr. Swedish, "How do you work on integration without talking to the person you're integrating with?"

4. During the trial, the DOJ cited a note between Mr. Swedish and Cigna CEO David Cordani in which Mr. Swedish said the companies' progress with their integration plans had been "unacceptable." A separate Anthem document said that the merger planning was constrained because of Cigna's failure to engage with Anthem.

5. In a previously sealed testimony, Mr. Cordani said Cigna ceased working on the merger integration this summer as Cigna has concerns than Anthem's integration plans would diminish Cigna's network and value.

6. If the court approves the deal, Mr. Swedish said Anthem would continue to work toward the merger despite disagreements between the two companies. If the merger fails to pass, Anthem would pay Cigna a $1.85 billion breakup fee.

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