Cigna Corp. is providing stock and other advantages to workers to boost an “even greater sense of ownership” following the collapse of a $48 billion purchase attempt by Anthem Inc. that ended almost 2 years of legal and boardroom wrangling.
Cigna claimed on the day of Thursday it will award 5 shares, valued at about $800, to its 40,000 workers. The cost to the Bloomfield company will be about $35 million.
Additionally, the health insurer is launching on the day of July 1 up to 4 weeks of paid leave for employees caring for others, involving kids, a seriously ill family member or qualifying military support.
Cigna Corp. also said it is ensuring that workers in all countries have almost 12 weeks of full paid maternity leave and four weeks of paid paternity and adoption leave.
“The stock award to our co-workers reinforces an even greater sense of ownership in our company as we sustain to pursue our mission of making better the health, well-being and sense of security of the individuals we serve,” said David Cordani, chief executive officer.
The global stock award and new benefits recognize Cigna employees’ accomplishments and their capability to “stay focused on customers in what has been a dynamic and disruptive environment over the past various years,” the company said.
After Anthem, based in Indianapolis, declared in the year of June 2015 it would purchase Cigna, the 2 insurers quickly disagreed who would lead the combined company.
After a federal judge blocked the deal in the month of February, Cigna sued Anthem for more than $13 billion, blaming it of violating the merger agreement and harming Cigna and its shareholders. Anthem quickly countersued.
Anthem said on the day of May 12 it will not appeal a Delaware judge’s ruling that Cigna can walk away from the deal. Anthem could be liable for a $1.85 billion breakup fee to Cigna.
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