Health insurer Cigna Corp. plans to buy Express Scripts Holding Co. in a cash-and-stock deal worth $52 billion, excluding debt, that the companies say will expand their health care offerings and help them control costs. Under the terms of the agreement, Express Scripts shareholders will receive $48.75 in cash and 0.2434 shares in the combined company for each Express Scripts share. The consideration amounts to about $96.03 for each Express Scripts share, a 31% premium over Express Scripts’ Wednesday closing price of $73.42.

Source: Wall Street Journal March 08, 2018 04:07 UTC