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.

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.

Related Articles on Cigna:

Managed Care M&A on the Rise

California Health Insurers Bring in $105B in Revenue in 2010

Cigna's Net Income Falls 35% in 3Q

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Whitepapers

Featured Webinars

>