Caremark Rx leans toward CVS deal
Washington, D.C. – Pharmacy benefits manager Caremark Rx has to decide between two suitors - rival Express Scripts or drug store chain CVS Corporation.
Analysts say that while shareholders are leaning toward Express Scripts, which is based in suburban St. Louis, it appears Caremark may be leaning toward the CVS deal.
Experts says that's mainly because that merger deal already has passed a major regulatory hurdle by receiving approval by the Federal Trade Commission.
Caremark has also said it is bound to the merger agreement with CVS and could have to pay the drugstore chain a $675 million-dollar breakup fee if it backs out of the deal.