Icahn changes course on Express Scripts acquisition

Activist investor Carl Icahn said he no longer opposes the acquisition of Express Scripts Holding Co. (NASDAQ:ESRX) by health insurance company Cigna Corp. (NYSE:CI). The move came after independent proxy advisory firms Glass Lewis & Co. and Institutional Shareholder Services (ISS) recommended that stockholders vote in favor of the acquisition.

In a statement, Icahn said he informed the SEC he will not solicit proxy votes against Cigna’s proposed $67 billion cash-and-stock buyout of the PBM...