The U.S. Department of Justice has cleared Cigna's $52 billion acquisition of Express Scripts, the companies announced in a statement Monday.
In combining Cigna, a health insurer, and Express Scripts, a pharmacy benefit manager, the firms say they can improve care for patients and lower health-care costs. Their rivals are growing and pursuing deals of their own as the industry faces increasing costs and growing political pressure and braces for Amazon's entry.
Shareholders voted to approve the merger last month, despite opposition from activist investor Carl Icahn, who wrote an open letter urging shareholders to reject the deal.
The companies expect to close the deal by the end of 2018.
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