Dear Shareholder - Take The Bid, Please
Make a commentBy Ed Silverman // January 23rd, 2007 // 7:58 am
Mac Crawford, Caremark’s ceo, is urging shareholders in the drug-store chain to accept the offer from Caremark.
In a letter released this morning, he uses blunt language to say that an unwanted, rival bid from Express Scripts, another big PBM, is “highly risky, will destroy shareholder value, will potentially result in the loss of large customer contracts.”
There’s really nothing new here. More of the same posturing that occurs in a takeover battle. It’s just got to get more exciting than this. Can’t it?
[tags]Caremark, CVS, Express Scripts, PBM[/tags]