Carl Icahn Publicly Opposes $54 Billion Cigna-Express Scripts Deal

Activist investor urges Cigna shareholders to vote against the proposed purchase of the pharmacy-benefit manager

Carl Icahn is going public with his campaign to scuttle Cigna Corp.’s $54 billion plan to buy Express Scripts Holding Co.

The billionaire activist investor sent an open letter Tuesday urging fellow Cigna shareholders to vote against the deal, which he calls a “$60 billion folly” carrying a “ridiculous” price tag. The Wall Street Journal reported on the forthcoming letter Monday.

“Cigna...