August 24, 2018 / 2:09 PM / 3 months ago

Cigna shareholders approve $52 bln Express Scripts acquisition

Aug 24 (Reuters) - Cigna Corp shareholders on Friday voted in favor of the health insurer’s proposed $52 billion acquisition of pharmacy benefit manager Express Scripts Holding Co, but the deal still needs antitrust approval to move forward.

The vote for the merger was expected after billionaire activist investor Carl Icahn walked away last week from his eleventh-hour attempt to rally shareholders to reject the deal.

The U.S. Department of Justice is still conducting an antitrust review of the combination that is not expected to close until later this year.

According to the preliminary results, about 90 percent of the votes cast were voted in favor of the merger agreement, the company said. (Reporting by Caroline Humer in New York and Ankur Banerjee in Bengaluru; Editing by Shailesh Kuber)

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