|
|
Article: Medco Health Solutions, Inc. Pays $2 Billion Dividend to Merck; Material Conditions to Spin-Off From Merck & Co., Inc. Are Satisfied.
- Article from:
- Business Wire
- Article date:
- August 13, 2003
CopyrightCOPYRIGHT 2003 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Business Editors
WHITEHOUSE STATION, N.J--(BUSINESS WIRE)--Aug. 13, 2003
Merck & Co, Inc. and its wholly owned subsidiary, Medco Health Solutions, Inc., "Medco Health," announced today that Medco Health has paid to Merck dividends aggregating $2 billion and that all material conditions for completion of the previously announced spin-off of 100 percent of Medco Health to Merck shareholders have been satisfied. The dividends were paid from the net proceeds of Medco Health's underwritten public notes offering, borrowings under Medco Health's credit facility, advances under its accounts receivable financing facility and the settlement of an intercompany ...