Activist Investor Icahn Drops Opposition To Cigna-Express Scripts Deal After Advisory Firms Signal Their Support

By August 14, 2018 News No Comments

Billionaire Carl Icahn had called the deal a “$60 billion folly,” but is now walking back his opposition in light of recommendations from Institutional Shareholder Services and Glass Lewis. The latter called the insurer’s offer for the pharmacy benefits manager “both strategically and financially compelling, structured in a reasonable manner from a valuation standpoint for Cigna shareholders.”