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Activist investor Carl Icahn has dropped his controversial opposition to the merger of insurer Cigna and pharmacy benefit manager Express Scripts, after previously bashing the $60 billion deal.

“Activist investor Carl Icahn has dropped his controversial opposition to the merger of insurer Cigna and pharmacy benefit manager Express Scripts, after previously bashing the $60 billion deal” writes Victor J for washingtonexaminer.com. The merger between Cigna and Express Scripts is the latest between insurers and pharmacies or PBMs.Icahn’s investment firm said in a statement late Monday that he was abandoning his attempt to stop the deal, but did not elaborate.He added that Amazon’s acquisition of the online pharmacy PillPack is another obstacle to the deal. Source: washingtonexaminer.com Share This:

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Tribune Media calls off deal to be bought by Sinclair 

“Under the terms of the deal, Tribune and Sinclair had the right to call off the deal without paying a termination fee if it was not completed by Aug. 8” reports cnbc.com. “So sad and unfair that the FCC wouldn’t approve the Sinclair Broadcast merger with Tribune.Tribune Media has terminated its $3.9 billion deal to be bought by Sinclair Broadcast Group, the company said on Thursday, after regulators objected to the acquisition that had received support from U.S. President Donald Trump.Tribune also filed a lawsuit against Sinclair, alleging material breach…

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Rite Aid and Albertsons agree to call off merger in the face of opposition

“As part of the proposed deal, Rite Aid shareholders would have owned 30 percent of the combined companies” writes This Story Was for seattletimes.com. The announcement came on the eve of a special meeting of Rite Aid shareholders to consider the merger.Under the deal that was called off Wednesday, Albertsons would have rebranded its in-store pharmacies under the Rite Aid name and would have continued to operate some stand-alone Rite Aid pharmacies.The Rite Aid pharmacy chain announced Wednesday that it had called off its proposed merger with Albertsons, the grocery…

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Megainsurer UnitedHealth in talks to buy pharmacy company

“Insurer giant UnitedHealthcare is close to a deal to buy pharmacy operator Genoa, becoming the latest insurer to expand into the pharmacy market, according to a report in Axios” reports washingtonexaminer.com. The move by insurers to merge or buy PBMs or pharmacies comes as retail giant Amazon is looking to get into the healthcare market.The private equity firm Advent International currently owns Genoa, but Bloomberg reported on Tuesday that the firm is trying to sell the company. Source: washingtonexaminer.com Share This:

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U.S. doctor’s group opposes merger of CVS and Aetna

“McAneny said the merger would mean higher prices, less choice and stifled innovation in PBM services, health insurance and pharmacy services” writes Midwest Communications Inc for 95kqds.com. WASHINGTON (Reuters) – The American Medical Association, which represents U.S. physicians, urged the U.S. Justice Department on Wednesday to stop CVS Health Corp’s plan to buy insurance provider Aetna Inc, saying the deal could result in higher prices for prescription medicines.The AMA said the deal would increase concentration in 10 of the 34 Medicare Part D regional markets to the point where it…

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Carl Icahn urges Cigna investors to block $60 billion Express Scripts deal

“Weeks before a shareholder vote on Cigna’s takeover of Express Scripts, activist Carl Icahn is urging the insurer’s investors to block the $60 billion transaction” writes Victor J for washingtonexaminer.com. Cigna and Express Scripts shareholders are slated to vote on the merger on Aug. 24.Cigna should also reward investors by repurchasing company stock, which typically buoys prices, he said. Source: washingtonexaminer.com Share This:

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DOJ: Judge ignored ‘economics, common sense’ to approve AT&T-Time Warner deal

“The Department of Justice argued Monday that a federal judge ignored economics and common sense in approving a $108 billion merger between AT&T and Time Warner” writes Steven Senne for washingtonexaminer.com. “The court agreed that Time Warner enjoyed bargaining leverage before the merger, but it illogically and erroneously concluded that Time Warner will have no increased leverage post-merger,” the DOJ wrote. “If AT&T-Time Warner acts rationally, the merger necessarily will make a difference in the negotiations, but the district court inexplicably found it made none.”.  Source: washingtonexaminer.com Share This:

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Linde shares drop as Praxair merger hits U.S. antitrust hurdle

“FRANKFURT (Reuters) – Shares in Linde plunged more than 8 percent on Monday after the industrial gases group’s planned $87 billion merger with Praxair was put in doubt by demands from U.S. antitrust regulators” writes Midwest Communications Inc for 95kqds.com. The companies are running against a Oct. 24 deadline to complete the deal, dictated by German financial market rules. In addition, Linde has agreed to sell North and South American assets to a consortium of German gases firm Messer and buyout group CVC in a deal that will raise around…

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U.S. court allows release of bench transcripts in AT&T merger fight

“The Justice Department has appealed but no date has been set for when the appeals court will hear the case” writes Midwest Communications Inc for 95kqds.com. WASHINGTON (Reuters) – An appeals court that is hearing the U.S. Justice Department’s fight with AT&T over its merger with Time Warner agreed on Friday to allow the release of transcripts of bench conferences that the public was unable to listen in on during the trial in a lower court.Judge Leon ruled in June that the Justice Department was wrong to ask that a…

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FCC chairman Pai says Trump has not contacted him on Sinclair deal

“No one in the White House has contacted us to express a view about the merger,” Pai said” reports businessinsider.com. Within days of the FCC action, Trump tweeted: “So sad and unfair that the FCC wouldn’t approve the Sinclair Broadcast merger with Tribune. The administrative review hearing could cause significant delays and potentially kill the deal.In July, the FCC unanimously voted to refer the merger for an administrative review to determine if the conservative-leaning Sinclair engaged in misrepresentation or displayed a lack of candor about the merger to the commission. Source:…

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