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