SAN DIEGO, March 8, 2018 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP has launched an investigation into whether the board members of Express Scripts Holding Company ("Express Scripts") (NASDAQ: ESRX) breached their fiduciary duties in connection with the proposed sale of the Company to Cigna Corp. ("Cigna") (NYSE: CI).
On March 8, 2018, Express Scripts announced that it had signed a definitive merger agreement with Cigna. Under the terms of the agreement, Express Scripts shareholders will receive $48.75 in cash, and 0.2434 shares of stock of the combined company per Express Scripts share. Upon closing of the transaction, Cigna shareholders will own approximately 64% of the combined company, and Express Scripts shareholders will own approximately 36%.
The investigation concerns whether the Express Scripts board failed to satisfy its duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Express Scripts shares of common stock. Nationally recognized Johnson Fistel is investigating whether the proposed deal represents adequate consideration, especially given the Company's projected earnings growth and one Wall Street analyst has a $101.00 price target on the stock.
If you are a shareholder of Express Scripts and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (jimb@johnsonfistel.com) at 619-814-4471. If emailing, please include a phone number.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
jimb@johnsonfistel.com
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SOURCE Johnson Fistel, LLP
