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The Monday Express: UK online lender taps Goldman Sachs, Morgan Stanley for IPO

* Bank of America Merrill Lynch, Goldman Sachs and Morgan Stanley are among the banks chosen to help manage the IPO of U.K-based online loan provider Funding Circle, a source told Bloomberg News.

* First Mid-Illinois Bancshares and First BancTrust released supplemental merger-related disclosures in order to settle a complaint alleging that the Illinois-based banks did not disclose material information about their deal.

* In Massachusetts, Salem Five Cents Savings Bank has acquired Cape Ann Insurance.

* BlackRock is merging its multiasset portfolio construction activities into one client portfolio solutions unit, Pensions & Investments reports, citing a memo issued to the asset manager's employees.

* Under their merger agreement, Health insurance company Cigna will pay pharmacy benefit manager Express Scripts $2.1 billion if the deal fails to close due to lack of regulatory approval. On the other hand, Cigna will receive $1.6 billion should the Express Scripts' board change its recommendation, Express Scripts' shareholders vote against the deal and Express Scripts terminate the deal because of superior offer.

* The state of Utah is asking the federal government to pay a greater share of the costs in its efforts to expand Medicaid.

* Employers Reassurance will bear the burden of the large long-term reserve deficiencies that parent General Electric disclosed in January. The reinsurance company reported statutory net loss of $2.33 billion in 2017 due to large increases in its aggregate reserves for the accident-and-health business.

The Daily Dose: Express Edition is updated as of 6:30 a.m. ET. Some external links may require a subscription.