Here’s what you should know.
1. CNBC said the move is in response to the CVS-Aetna Health deal which was announced December 2017.
2. Cigna intends to lower healthcare costs by using Express Scripts to increase its purchasing power.
3. Cigna is offering approximately $48.75 and 0.2434 shares of stock in the combined company for each Express Scripts share. It represents approximately $96.03 per share.
4. Cigna would be taking on approximately $15 billion in Express Scripts debt in the transaction.
5. If approved, Cigna shareholders will own 64 percent of the combined company after the deal closes.
6. Cigna CEO David Cordani will serve as the combined company’s CEO.
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