DOJ clears Cigna’s acquisition of Express Scripts

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Michael Nagle | Bloomberg | Getty Photographs

Pedestrians stroll handed signage at Cigna headquarters in Bloomfield, Connecticut.

The U.S. Division of Justice has cleared Cigna’s $52 billion acquisition of Categorical Scripts, the businesses introduced in a press release Monday.

In combining Cigna, a well being insurer, and Categorical Scripts, a pharmacy profit supervisor, the companies say they’ll enhance take care of sufferers and decrease health-care prices. Their rivals are rising and pursuing offers of their very own because the trade faces rising prices and rising political strain and braces for Amazon’s entry.

Shareholders voted to approve the merger final month, regardless of opposition from activist investor Carl Icahn, who wrote an open letter urging shareholders to reject the deal.

The businesses anticipate to shut the deal by the tip of 2018.

The Justice Division’s evaluate of one other main healthcare merger, CVS’s proposed acquisition of Aetna, has taken longer due to potential divestitures however may conclude this month, a supply acquainted with the matter informed Reuters on Monday.

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