Brendan McDermid | Reuters
David Cordani, President and CEO of CIGNA Corp., appears on CNBC's New York Stock Exchange in New York on March 8, 2018.
The shareholders of Cigna and Express Scripts have approved their merger and become an activist investor blamed Carl Icahn and continued rapid consolidation in the healthcare industry, the companies announced on Friday.
CVS managers have been optimistic about the progress of regulation earlier this month. They told Wall Street analysts about a profit share they now expect the business will close by the end of the third or early fourth quarter, a more refined expectation than the predicted second half of the year.
Experts have closely monitored AT & T's bid for Time Warner for guidance on how the Department of Justice can handle these healthcare offerings. Similar to Cigna-Express Scripts and CVS-Aetna, it is an example of vertical integration, where companies are similar but not directly overlapping.