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Cigna Expects Acquisition of Express Scripts by End of 2018

Cigna Expects Acquisition of Express Scripts by End of 2018

On March 7, 2018, Cigna (CI) announced that it has entered into a definitive agreement to acquire Express Scripts (ESRX) for a total consideration of $67 billion, which includes $15 billion worth of the latter’s debt. The cash and stock transaction has been structured so every Express Script common share will be purchased for $48.75 in cash and 0.24 of Cigna’s common shares. Cigna has offered Express Scripts’ shareholders a premium of ~31% over Express Scripts’ closing price as of March 7, 2018.