Caremark shareholders to vote on CVS offer
From the Associated Press
Shareholders of prescription benefits management company Caremark Rx Inc. will decide today whether to accept the CVS Corp. offer favored by managers or hold out for the chance to be taken over by Express Scripts Inc.
As expected, shareholders of drugstore chain CVS on Thursday approved a stock and cash buyout valued at $26.5 billion. Analysts believe that CVS, based in Woonsocket, R.I., may have the edge over Maryland Heights, Mo.-based Express Scripts, whose bid is slightly higher at $27.2 billion but hasn’t yet passed antitrust scrutiny.
