Cigna to Buy Express Scripts as Health Shakeout Speeds Up [Bloomberg Business News]
The Cigna Group (CI)
Last the cigna group earnings: 4/30 06:00 am
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Source: Bloomberg Business News
Cigna Corp. agreed to buy Express Scripts Holding Co . in an about $54 billion deal that builds on the rapid transformation of the health-care business as companies and consumers chafe at rising costs. The price includes $48.75 in cash and 0.2434 shares of stock of the combined company per Express Scripts share, the companies said in a statement Thursday. The terms represent a roughly 31 percent premium to Express Scripts’ closing price on Wednesday, according to the statement. Cigna will assume approximately $15 billion in Express Scripts debt, which the companies said will put the total value of the deal at $69.6 billion. Express Scripts is the largest remaining independent drug middleman. Its biggest competitors are the pharmacy-benefits management companies run by CVS Health Corp. and UnitedHealth Group Inc. The transaction is the latest in a series of moves by companies inside and outside the health sector to tame medical expenses. M
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- AM Best Affirms Credit Ratings of The Cigna Group and Its Subsidiaries [Yahoo! Finance]Yahoo! Finance
- AM Best Affirms Credit Ratings of The Cigna Group and Its SubsidiariesBusiness Wire
- The Cigna Group Declares Quarterly DividendPR Newswire
- The Operations Council Recently Appointed Board of AdvisorsPR Web
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