51��Ƶ

Activist investor Carl Icahn said on Monday that he no longer intended to solicit proxies to vote against the $52 billion Cigna-Express Scripts deal, a turn around from his position last week when he urged the health insurer's shareholders to vote against it. Icahn's comments come after proxy advisory firms Glass Lewis & Co and Institutional Shareholder Services Inc (ISS), as well as hedge fund Glenview Capital Management, extended their support for the deal. (8/13)

Cigna has said Mr. Icahn doesn’t understand the dynamics of health care and appeared to be betting against the deal for a profit. It called his opposition “misguided and shortsighted” in a statement last week. Mr. Icahn said in his statement that he informed the Securities and Exchange Commission he will no longer solicit proxies to vote against the transaction. (Lombardo, 8/13)

“In light of the ISS and Glass Lewis recommendations in favor of the Cigna/Express Scripts transaction and the significant stockholder overlap between the companies, we have informed the SEC we no longer intend to solicit proxies to vote against the transaction,” Icahn said Monday in a statement. (Deveau, 8/13)