Express Scripts Inc. (ESRX) Bids $26 Billion for Caremark Rx Inc. (CMX)
Express Scripts Inc. (ESRX) made an unsolicited offer of $26 billion for Caremark Rx Inc. (CMX) to become the biggest U.S. manager of drug benefits, topping a bid by drugstore chain CVS Corp. Caremark investors would receive $58.50 in cash and stock for each share, 15 percent more than the Dec. 15 closing price, St. Louis, Missouri-based Express Scripts said today. CVS agreed Nov. 1 to buy Caremark for $48.53 a share, offering no premium. Acquiring Caremark would give Express Scripts more clout in negotiating discounts with drugmakers such as Merck & Co. Its revenue would triple to $49 billion, surpassing Medco Health Solutions Inc.'s $37.9 billion.
Source: Bloomberg.comLabels: Caremark Rx Inc., CMX, ESRX, Express Scripts Inc.
posted by Stock Administrator @ 5:01 PM
Express Scripts Inc. (ESRX) Bids $26 Billion for Caremark Rx Inc. (CMX)
Express Scripts Inc. (ESRX) made an unsolicited offer of $26 billion for Caremark Rx Inc. (CMX) to become the biggest U.S. manager of drug benefits, topping a bid by drugstore chain CVS Corp. Caremark investors would receive $58.50 in cash and stock for each share, 15 percent more than the Dec. 15 closing price, St. Louis, Missouri-based Express Scripts said today. CVS agreed Nov. 1 to buy Caremark for $48.53 a share, offering no premium. Acquiring Caremark would give Express Scripts more clout in negotiating discounts with drugmakers such as Merck & Co. Its revenue would triple to $49 billion, surpassing Medco Health Solutions Inc.'s $37.9 billion.
Source: Bloomberg.com
Source: Bloomberg.com
Labels: Caremark Rx Inc., CMX, ESRX, Express Scripts Inc.
posted by Stock Administrator @ 5:01 PM
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