Stocks traded higher for a second straight day on hopes the Federal Reserve chief will confirm expectations of easier monetary policy at a central banking summit this week.US Marketsread more
A Volkswagen spokesperson called the report that CEO Herbert Diess is interested in buying a stake in Tesla "completely unfounded."Technologyread more
"My sense was we've added accommodation, and it wasn't required in my view," George tells CNBC's Steve Liesman.Investingread more
Apple plans to unveil three new iPhones in September, including two new "Pro" models and a successor to the iPhone XR, Bloomberg reported Thursday.Technologyread more
Corporate profits posted modest growth in the second quarter as companies brace for slowing global growth.Retailread more
Former Prudent Bear Fund manager David Tice is urging investors to brace for a massive downturn.Trading Nationread more
Kraft has filed a contempt motion against the CFTC over a press release announcing the $16 million fine to settle claims of manipulating wheat prices.Food & Beverageread more
A ruling against J&J could mean more big payouts in similar cases across the country.Health and Scienceread more
Michael Burry thinks GameStop still has upside as Sony's and Microsoft's upcoming consoles will likely have physical optic drives.Investingread more
Target shares closed Wednesday up more than 20%, after the retailer reported impressive profit growth and a spike in traffic that surpassed analysts' expectations.Retailread more
German Chancellor Angela Merkel said a solution to the Irish "backstop" is possible before the October 31 Brexit deadline.Europe Economyread more
"Our firm, Glenview Capital Management, is a 10-year investor in Cigna, and we support the Express Scripts transaction," Robbins said in a letter to Cigna shareholders Thursday. "Together, Cigna and Express Scripts will save their customers billions of incremental dollars annually with better healthcare outcomes, consistent with the social mission of each entity."
Cigna announced the $54 billion deal for pharmacy benefit manager Express Scripts in March amid a wave of consolidation in the health-care industry. Cigna rival Aetna had agreed to combine with drugstore chain and pharmacy benefit manager CVS Health months earlier in a deal that shook up the space.
The investor noted Cigna is getting Express Scripts at an attractive price that is 25 percent below historical transaction valuations for similar companies.
"Sensationalist headlines and intentionally misleading assertions from those with conflicting interests and limited analysis should not carry more weight than balanced diligence," Robbins said.
Robbins said his firm has an approximately $1.3 billion total investment in Cigna and Express Scripts, split about evenly between the two companies. Icahn has 0.56 percent of Cigna, worth roughly $250 million, The Wall Street Journal reported. Icahn also has a short position in Express Scripts.
On Tuesday, Icahn urged Cigna shareholders to vote against the deal. The billionaire activist investor doesn't believe Express Scripts is a good company and called the price for Cigna "ridiculous." Icahn would rather see Cigna buy back its shares and pursue a partnership strategy with pharmacy benefit managers.
In the letter, Robbins directly addressed Icahn's objection.
"We believe that Cigna shareholders, including Mr. Icahn, would be hard pressed to explain how saving customers and payors so much money is harmful to society and the communities they serve, and that perhaps Mr. Icahn has been misled by misinformation fed to him by analysts with short-term personal agendas," Robbins said.
Cigna and Express Scripts shareholders are set to vote on the deal on Aug. 24.
Robbins is founder and CEO of Glenview Capital Management, a New York-based hedge fund firm. He has a net worth of $2.3 billion, according to Forbes.