Missouri Minute: Cigna-Express Scripts deal gets Justice Department approval; Schnucks buying 19 Shop ‘n Save locations

Here are today’s top headlines from across Missouri:

Cigna-Express Scripts deal gets Justice Department approval

Antitrust regulators at the the U.S. Department of Justice on Monday approved Cigna’s $54 billion acquisition of Express Scripts, bringing a deal that could help reshape the health care industry one step closer to completion. Cigna, the Connecticut-based health insurer, still needs states to approve its purchase of Express Scripts, the St. Louis County-based pharmacy benefits manager. Read more

Schnucks to acquire 19 Shop ‘n Save stores in ‘generational’ deal

In a move that will shake up the supermarket landscape of the St. Louis area, Schnuck Markets Inc. has agreed to acquire 19 Shop ‘n Save locations in the region for an undisclosed price. Schnucks CEO Todd Schnuck called the deal between the St. Louis-based grocers a “generational transaction.” Read more

Columbia city workers to see pay hikes under 2019 budget

City workers in Columbia will receive pay raises for the 2019 fiscal year under a city budget approved Monday night by the Columbia City Council. The increases are projected to cost the city $3.1 million. Read more

Billy Busch plans Kraftig brewery for St. Charles County

William “Billy” Busch, president and CEO of the St. Louis-based William K. Busch Brewing Co., plans to build a brewery and distillery on land he owns in St. Charles County. The man behind the Kraftig beer brand envisions a 20,000-square-foot microbrewery with room for 265 customers and beer production of up to 2,500 barrels annually. Read more

KC investors sue advisory firm over Florida bankruptcy

Ten individuals from the Kansas City area are suing an Overland Park, Kansas-based investment group that recommended investing in a Florida firm that’s now going through a $283 million bankruptcy. Clients invested in “memorandums of indebtedness” from 1st Global Capital, which would then finance small businesses with the proceeds. Read more

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