Here’s what you should know:
1. Mr. Icahn referred to the deal as a travesty and attempted to block it because he felt Cigna was “dramatically overpaying” for Express Scripts.
2. Mr. Icahn wanted Cigna to abandon the acquisition and instead partner with Express Scripts, using its cash to buyback shares.
3. However, he dropped his attempt to block the deal Aug. 13, after Institutional Shareholder Services and Glass Lewis & Co. came out in support of the deal.
4. The firms said the deal made financial and strategic sense.
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