Express Scripts Stockholders Ok Acquisition By Cigna

(RTTNews) - Stockholders of Express Scripts Holding Company (ESRX) approved the proposed acquisition of Express Scripts by Cigna.

Based on a preliminary tabulation, about 78 percent of the shares of Express Scripts common stock outstanding and entitled to vote adopted the Agreement and Plan of Merger with Cigna and certain of its subsidiaries. These shares represent more than 99 percent of the shares voted at a special meeting of shareholders held earlier today.

Earlier today, Cigna announced that its stockholders also adopted the merger agreement. The transaction remains subject to the satisfaction of customary closing conditions, including applicable regulatory approvals.

Express Scripts expects the transaction to close by December 31, 2018.

In March 2018, Cigna agreed to acquire Express Scripts in a cash and stock transaction valued at about $67 billion, including Cigna's assumption of about $15 billion in Express Scripts debt.