Cigna agreed on Monday to buy HealthSpring for about $3.8 billion in cash, in a bid to add Medicare and senior care coverage.
Under the terms of the deal, Cigna will pay $55 a share, 37 percent above HealthSpring’s closing price on Friday.
The deal is the latest seeking to take advantage of an expected growth in Medicare and insurance of seniors, an area where Cigna does not have a significant presence.
Regards,
Don
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