Health insurer Cigna to buy Express Scripts in $67 billion deal

(Reuters) - U.S. health insurer Cigna Corp said on Thursday it would buy pharmacy benefit manager Express Scripts Holding Co in a $67 billion cash-and-stock deal, including debt.

Cigna's offer consists of $48.75 in cash and 0.2434 shares of stock of the combined company for each Express Scripts share, amounting to $96.03 per share.

The offer represents a premium of nearly 31 percent to Express Scripts' Wednesday closing price of $73.42.

The deal value includes the assumption of about $15 billion in Express Scripts debt.

(Reporting by Ankur Banerjee in Bengaluru; Editing by Saumyadeb Chakrabarty)