and face the possibility of adelay to the closing of their merger.

The twocompanies are aiming to close the deal in the second half of the year, but itis possible that regulatory approvals may not come through in 2016 due to"the complexity of the regulatory process and the dynamicenvironment," Cigna said in a regulatory filing.

Anthemwill be on the hook to pay Cigna a termination fee of $1.85 billion if agenciesdo not give consent to the merger or if the merger is not completed by Jan. 31,2017, subject to extension to April 30, 2017, because all necessary regulatoryapprovals have not been obtained.

Cignasaw $40 million pretax in costs consisting of fees for legal, advisory andother professional services in connection with the proposed merger.