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Article: CVS Caremark Purchases Longs Drug Stores.

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Health & Beauty Close-Up
Article date:
August 17, 2008
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HEALTH AND BEAUTY CLOSE-UP-17 August 2008-CVS Caremark Purchases Longs Drug Stores(C)2008 - CloseUpMedia - newsdesk@closeupmedia.com

CVS Caremark and Longs Drug Stores announced that they have entered into a definitive agreement under which CVS Caremark will acquire Longs for $71.50 per share in cash for a total purchase price of $2.9 billion including the assumption of net debt.

Through the acquisition, CVS Caremark will acquire Longs' 521 retail drugstores in California, Hawaii, Nevada and Arizona as well as its Rx America subsidiary, which offers prescription benefits management ("PBM") services to over 8 million members and prescription drug plan ...

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