Cigna to Offer 15M Shares to Help Fund HealthSpring Purchase

Health insurer Cigna plans to offer roughly 15 million shares of common stock in a public offering to help pay for its pending acquisition of HealthSpring, a Medicare Advantage company, according to a Cigna news release.

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By: Staff

Cigna will give underwriters a 30-day option to purchase up to an additional 2.25 million shares.

Cigna purchased HealthSpring for $3.8 billion on Oct. 24, and the transaction is expected to close during the first half of 2012.

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