Carl Icahn abandons effort to kill Cigna's Express Scripts deal [CNN]
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Source: CNN
Carl Icahn abandons effort to kill Cigna's Express Scripts deal Carl Icahn has given up on his attempt to sabotage Cigna's takeover of Express Scripts. The activist investor had called on other Cigna ( CI ) shareholders to vote against the $67 billion deal . He argued that the health insurer is massively overpaying for a "highly challenged" Express Scripts ( ESRX ) , which faces existential risks. But Icahn's push suffered heavy setbacks when influential shareholder advisory firms ISS and Glass Lewis both came out in favor the takeover. His firm Icahn Capital said in a statement late Monday that "in light of the ISS and Glass Lewis recommendations" it's dropping its efforts to persuade shareholders to oppose the deal. Related: Carl Icahn says Cigna's Express Scripts deal rivals 'worst in corporate history' Cigna agreed in March to buy Express Scripts, one of the biggest US pharmacy benefits managers, which administers drug plans for Americans with employer and government hea
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