Today’s issue of WorkCompRecap features the announcement from Cigna that its shareholders have voted to approve the adoption of the previously announced merger agreement with Express Scripts, whose shareholders have also approved the transaction.
Cigna noted that according to the preliminary results announced at the special meeting, approximately 90 percent of the votes cast were in favor of the merger agreement. The acquisition was announced in March of this year in a cash and stock transaction valued at approximately $67 billion, including Cigna’s assumption of approximately $15 billion in Express Scripts debt. Cigna also said that it anticipates that the merger will close by year-end 2018, subject to the satisfaction of customary closing conditions, including the applicable regulatory approvals.
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