San Diego, CA — 03/13/2018 — The takeover of Express Scripts Holding is under investigation over potential wrongdoing. The investigation was announced for investors, who currently hold shares of Express Scripts Holding Company (NASDAQ:ESRX), concerning whether the takeover of Express Scripts Holding Company . by Cigna Corporation for a value of approximately $96.03 per share is unfair.
Investors who purchased shares of Express Scripts Holding Company (NASDAQ:ESRX) and currently hold any of those NASDAQ:ESRX shares have certain options and should contact the Shareholders Foundation at [email protected] or call +1(858) 779 – 1554.
The investigation by a law firm concerns whether certain directors of Express Scripts Holding Company breached their fiduciary duties owed to NASDAQ:ESRX investors in connection with the proposed acquisition.
On March. 8, 2018, Cigna Corporation(NYSE: CI) and Express Scripts Holding Company (NASDAQ: ESRX) announced that they have entered into an agreement whereby Cigna will acquire Express Scripts in a cash and stock transaction valued at approximately $67 billion, including Cigna's assumption of approximately $15 billion in Express Scripts debt. The merger consideration will consist of $48.75 in cash and 0.2434 shares of stock of the combined company per Express Scripts share. The transaction was approved by the board of directors of each company. Based on a closing price of $194.25 per NYSE:CI shares on March 7, 2018, investors in NASDAQ:ESRX shares will receive a value of approximately $96.03 per NASDAQ:ESRX shares
However, the investigation concerns whether the offer is unfair to NASDAQ:ESRX stockholders. More specifically, the investigation concerns whether the Express Scripts Holding Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
On March 12, 2018, NASDAQ:ESRX shares closed at $78.25 per share.
Those who are current investors in Express Scripts Holding Company (NASDAQ:ESRX) shares have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego
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