Big Drug Deal

And no, this isn’t a deal behind a warehouse for an illegal substance. A merger between CVS Corp. and Caremark RX can continue to move forward today after an announcement by Caremark RX that it would discontinue its dealings with Express Scripts. According to a story on MSN.com, “Express Scripts will move forward with the $21.2 billion all-stock bid by CVS made Nov. 1. Caremark said Express Scripts' higher offer included "questionable assumptions" on its cost-savings calculations and "would result in a highly leveraged and weakened business." Caremark’s board was apparently concerned about anti-trust issues between the combining of the 2nd and 3rd largest prescription drug managers in the United States. As expected, shares of all three companies were down aroun View the rest of this article