Cigna and Express Scripts in $67 billion health merger

Health service provider Cigna said Thursday it had reached an agreement to acquire pharmacy benefits manager Express Scripts in a cash and stock deal worth approximately $67 billion (54 billion euros). The firms said the deal would create a wider portfolio of health services with greater choice, as well as helping make them more affordable.
"Together, our two organizations will help make the healthiest choices the easiest choices, putting health and pharmacy services within reach of everyone we serve," Express Scripts chief executive Tim Wentworth said in a statement. The transaction, which has been approved by the board of directors of both companies, offers Express Scripts shareholders $48.75 in cash and 0.24 shares of stock of the combined company for each of their shares.