Cigna Extends Termination Date for Express Scripts Deal -- Update
November 21 2018 - 6:07PM
Dow Jones News
By Josh Beckerman
Cigna Corp. (CI) and Express Scripts Holding Co. (ESRX) have
agreed to extend the termination date of their merger to June 8
from Dec. 8.
Cigna's cash-and-stock purchase of Express Scripts was valued at
$54 billion when announced in March.
In a filing Friday, Cigna said "based on the information
currently available," the companies agree that the deal's effective
time isn't expected to occur by Dec. 8. They still expect the
transaction will close in 2018.
Earlier Friday, a New York state regulator scheduled a Dec. 7
public hearing about the deal. The Department of Financial Services
said the meeting "will provide an opportunity for all stakeholders
to comment on the potential impacts on consumers and the insurance
marketplace."
The transaction has received all necessary state approvals other
than New York, California and New Jersey. The U.S. Justice
Department approved it in September.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
November 21, 2018 17:52 ET (22:52 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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