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Caremark rejects Express Scripts offer, will seek deal with CVS


Nashville, Tenn. – Caremark Rx said Monday it is rejecting an offer by the St. Louis-based prescription benefits manager Express Scripts.

Nashville-based Caremark says the deal is in not in the best interests of its shareholders and that it will continue pursuing a deal with CVS.

CVS says the Express Scripts offer is "highly conditional" and would reduce the number of major competitors in the managed pharmacy business from three to two - an issue that CVS says could prevent approval.

Express Scripts says Caremark stockholders have shown support for its offer.


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