Shareholders Approve Cigna, Express Scripts Merger

Stockholders of Express Scripts Holding Co. and Cigna Corp. have approved Cigna’s proposed acquisition of Express Scripts in a $52 billion deal. The deal, which still needs regulatory approvals, is expected to close by Dec. 31. Express Scripts is a pharmacy benefit manager that provides workers’ comp PBM services. In May 2017, Express Scripts acquired myMatrixx, a workers’ comp PBM. Health insurer Cigna believes that the Express Scripts acquisition will allow the companies to save more on health care costs for clients by better coordinating medical care with prescriptions,...