Anthem Inc. today said it is terminating its planned $48 billion acquisition of fellow health insurer Cigna Corp.

The move comes a day after a Delaware Court of Chancery judge denied its request for an extension to complete the deal.

Anthem (NYSE: ANTM) and Cigna (NYSE: CI) are respectively the No. 2 and 3 preferred-provider organizations in Colorado, after UnitedHealthcare, according to DBJ List research.

Read more at Denver Business Journal.