Express Scripts Ups Its Caremark Bid


Express Scripts Ups Its Caremark Bid

Late Wednesday, Express Scripts Inc. increased its hostile and competitive cash/stock bid for rival pharmacy benefits manager Caremark Rx Inc. In December, a month after Caremark agreed to a "merger-of-equals" with CVS in which Caremark shareholders would receive 1.67 CVS shares (presently $31.32) plus a $6 dividend for each share they own (valuing the company

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PHILADELPHIA (Reuters)—Pharmacy benefit manager Caremark Rx Inc. said late Sunday it rejected a roughly $26 billion takeover bid from rival Express Scripts Inc., favoring instead an offer of about $22.2...

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