Reuters, March 8 -- U.S. health insurer Cigna (CI.N) said on Thursday that it would acquire pharmacy benefit management company Express Scripts Holding (ESRX.O) for about $54 billion, the latest insurance industry deal aimed at reducing soaring healthcare costs.

       Cigna's purchase price includes $48.75 in cash per share plus 0.2434 shares of the combined company for each Express Scripts share, equivalent to a premium of nearly 31% over Express Scripts' closing price on Wednesday.

Cigna said the deal is valued at $67 billion, including about $15 billion of Express Scripts' debt.

        After the transaction closes, Cigna shareholders will own about 64% of the combined company, with Express Scripts shareholders holding the remainder.

Source: Reuters  2018-03-10