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Carl Icahn Has Sizable Stake in Cigna, Plans to Vote Against Express Scripts Deal

By Tony Seruga

Activist investor likely to urge other shareholders to vote against $54 billion proposed takeover

Activist investor Carl Icahn has built a sizable stake in Cigna Corp. and plans to vote against the health insurer’s $54 billion purchase of Express Scripts Holding Co., the latest sign of trouble for the planned tie-up.

Mr. Icahn, whose stake amounts to less than 5% of Cigna’s shares outstanding, believes the company is paying too high a price for the pharmacy-benefit manager, which faces threats on a number of fronts, according to people familiar with the matter…

Carl Icahn Has Sizable Stake in Cigna, Plans to Vote Against Express Scripts Deal

Categories : Private Equity

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