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Top News & Analysis Delaware

  • Trump's executive order directs the Justice Department to ask a federal court to put legal challenges to the rule on hold as the administration conducts its review, a senior official said. The order, which the White House did not immediately make public, will kick off what will likely be a lengthy process to undo the Waters of the United States rule, finalized by...

  • Feb 23- Cigna Corp said Chief Financial Officer Thomas McCarthy will retire this summer, a week after the health insurer's $54 billion deal to be acquired by Anthem Inc was blocked by the U.S. Justice Department. Michael Triplet, Alan Muney and Christopher Hocevar will join the team immediately, the company said. Cigna had notified Anthem that it had ended the deal...

  • SAN FRANCISCO, Feb 17- The state of Delaware will sell $225 million of general obligation bonds on Feb. 23, the largest offer in a trading week shortened by the Presidents Day holiday on Monday. The subdued level of supply is in line with the low-volume trend that began at the outset of the month, according to Alan Schankel, managing director and municipal strategist...

  • WILMINGTON, Del., Feb 17- Energy Future Holdings Corp, which owns the largest power network in Texas, received court approval on Friday to confirm its plan to exit bankruptcy and be acquired by NextEra Energy Inc in a deal valued at around $18 billion. Approval from the Public Utility Commission of Texas is required for the purchase of Energy Future's power...

  • Feb 15- Anthem Inc on Wednesday won a temporary restraining order that blocks smaller rival Cigna Corp from officially terminating their proposed $54 billion merger, a transaction already rejected by U.S. antitrust regulators. Judge Travis Laster of Delaware's Court of Chancery granted the temporary order, saying it would keep the deal together so Anthem...

  • In separate rulings, federal judges struck down both deals as anticompetitive, at the request of the Justice Department. Cigna also filed a lawsuit in Delaware, seeking legal sanction for its decision to end the deal and approval for $13 billion in damages for its shareholders who did not receive the takeover premium. Anthem's lawsuit, which was also filed in...

  • Cigna also filed a lawsuit in Delaware, seeking legal sanction for its decision to end the deal and approval for $13 billion in damages for its shareholders who did not receive the takeover premium. President Donald Trump and Republicans have vowed to repeal and replace Obamacare, the national healthcare reform law that created new individual insurance and...

  • Cigna also filed a lawsuit in Delaware on Tuesday, seeking legal sanction for its decision to end the deal and approval for $13 billion in damages for its shareholders who did not receive the takeover premium. Anthem in its lawsuit, which was also filed in Delaware, is seeking a temporary restraining order to prevent Cigna from ending the deal, arguing there is...

  • Feb 15- Anthem Inc said on Wednesday it has filed a lawsuit seeking a temporary restraining order to enjoin Cigna Corp from terminating its $54 billion deal. Cigna said on Tuesday it had notified Anthem that it had terminated its merger and that Anthem was required to pay a $1.85 billion breakup fee. Cigna also filed a lawsuit in Delaware on Tuesday, asking a judge...

  • NEW YORK/ WASHINGTON Feb 14- Health insurers Aetna Inc and Humana Inc walked away from their $34 billion merger on Tuesday and Cigna Corp sought to end its deal with Anthem, shelving the industry consolidation they charted to address former President Barack Obama's Affordable Care Act. President Donald Trump and Republicans have vowed to repeal and replace...

  • Feb 14- Health insurers Aetna Inc and Humana Inc walked away from their $34 billion merger on Tuesday and Cigna Corp sought to end its deal with Anthem, shelving the industry consolidation they charted to address former President Barack Obama's Affordable Care Act. President Donald Trump and Republicans have vowed to repeal and replace Obamacare, the...

  • Both deals were announced in July 2015, and the Justice Department filed a lawsuit a year later saying they were illegal under antitrust law. Federal judges hearing the cases ruled against Aetna's acquisition of Humana on Jan. 23 and Anthem's $54 billion bid for Cigna on Feb. 8. Aetna will pay Humana a $1 billion breakup fee, or $630 million after taxes, and...

  • WILMINGTON, Del., Feb 13- A Delaware judge had the authority to order the sale of TransPerfect Global Inc, a leading translation business, over the opposition of a co-owner, the Delaware Supreme Court ruled on Monday in an unusually heated boardroom battle. Most of the 68- page ruling and dissent focused on whether Delaware law grants a judge the authority to order a...

  • WILMINGTON, Del., Feb 9- Sears Holding Corp's chairman and chief executive, Eddie Lampert, and the company's board agreed to a $40 million settlement of a shareholder lawsuit that alleged Lampert benefited from a deal to spin off 235 of the struggling chain's best stores. The settlement must be approved by Delaware's Court of Chancery. Seritage then paid $2.6...

  • WILMINGTON, Del., Feb 9- Sears Holding Corp's chairman and chief executive, Eddie Lampert, and the company's board agreed to a $40 million settlement of a shareholder lawsuit that alleged Lampert benefited from a deal to spin off 235 of the struggling chain's best stores. The settlement must be approved by Delaware's Court of Chancery. Seritage then paid $2.6...

  • WILMINGTON, Del, Feb 9- The longest-serving member of Delaware's Supreme Court, Randy Holland, announced his plan to retire at the end of March, according to a statement from the court on Thursday. The court recently dismissed a $171 million investor lawsuit against pipeline operator Kinder Morgan Inc and revived a lawsuit against Zynga Inc's controlling...

  • Regeneron general counsel Joseph LaRosa said in a statement the company would continue to defend its case through the appeal process. Sanofi spokeswoman Ashleigh Koss said in an email the company was pleased the order had been stayed, "giving patients in the U.S. continued access to this important medicine during the appeal process. Amgen spokeswoman Kristen...

  • Sanofi spokeswoman Ashleigh Koss said in an email the company was pleased the order had been stayed, "giving patients in the U.S. continued access to this important medicine during the appeal process. Amgen had sought to block Praluent sales in an October 2014 lawsuit against Paris- based Sanofi and Tarrytown, New York- based Regeneron. Thousand Oaks, California-...

  • HARRISBURG, Pa., Feb 7- Pennsylvania Gov. Tom Wolf on Tuesday proposed a $32.3 billion state budget for fiscal 2018 that seeks to reduce an estimated $3 billion structural deficit through $2 billion in spending cuts and $1 billion in revenue enhancements. Wolf also hopes to get $200 million from a leaseback deal for the Pennsylvania Farm Show Complex& Expo Center...

  • Feb 6- Eastern Outfitters LLC, the parent of discount chain Bob's Stores and outdoor retailer Eastern Mountain Sports, filed for bankruptcy protection on Sunday, the latest U.S. retailer to do so amid increased competitive pressure facing the sector. Eastern Outfitters listed assets and liabilities in the range of $100 million to $500 million, according to...