This comes from Glass Lewis, the shareholder advisory firm, which remains critical of Caremark:

“We are troubled that the Caremark directors failed to promote a competitive bidding or partnering process. Investors should remain concerned that the board of Caremark has not done all it could to ensure that shareholders stand to receive the highest value in any sale or merger.”

This is from Express Scripts to Caremark stockholders:

If you want more money, you should vote against the CVS transaction. Express Scripts knows Caremark stockholders want more value. We do too. If we discover additional value during due diligence, it is only logical that we could increase our offer. In addition, we are confident that the upside potential of a combined Express Scripts-Caremark will deliver enhanced value stockholders seek. Caremark’s flawed process has left money on the table

An excerpt from CVS to Caremark stockholders:

Certainty : A transaction that has cleared all necessary regulatory hurdles and is poised to close immediately following CVS and Caremark shareholder approvals.

Immediate Value: A best and final offer that includes a special cash dividend of $7.50 per share payable at or promptly after closing of the merger to Caremark shareholders of record as of the close of business on the day immediately preceding the closing date.

CVS Statement;
Express Scripts statement;
Reuters story including Glass Lewis remarks.
[tags]Caremark, CVS, Express Scripts[/tags]