Anthem files motion to block Cigna from terminating $54 billion merger

Anthem has filed a motion to block Cigna from terminating their $54 billion merger agreement when the contract expires on April 30, according to Law360.

Anthem filed the preliminary injunction on Wednesday. A hearing is scheduled for Monday, May 8, Law360 said.

The United States Court of Appeals is currently considering Anthem's appeal of a district court ruling in February blocking the merger. Anthem brought the lawsuit after the Department of Justice  denied the merger in July on the grounds that it would violate antitrust rules and be anticompetitive.

[Also: DOJ asks appeals court to block Anthem, Cigna merger]

Anthem said efficiencies from the combined insurers would create $2.4 billion in cost savings.

In court and through statements, Anthem said that it believed a new administration under President Donald Trump would be more favorable to the merger.

In late March, Trump chose former Anthem lobbyist Makan Delrahim to lead the antitrust division of the Department of Justice. Watchdog group, United to Protect Democracy, complained in a letter to the Justice Department that Anthem CEO Joseph Swedish and Trump had been in contact.

[Also: Watchdog group wants investigation into whether White House is interfering in Anthem merger]

Anthem and Cigna have been at odds in court and in subsequent lawsuits. In February, Anthem filed to block Cigna from exiting the merger agreement after Cigna filed a lawsuit seeking over $14 billion in damages saying the deal had been terminated by the court ruling against it.

By the terms of their July 2015 contract, Anthem and Cigna have until April 30 to merge, or Anthem must pay Cigna a $1.85 billion breakup fee.

[Also: Anthem and Cigna merger would take innovative insurer out of market, AHA says]

Anthem did not respond to a request for comment.

The insurer holds a first quarter earnings call at 8:30 a.m. Wednesday.

Twitter: @SusanJMorse