CVS: Our ‘Best And Final Offer’
Make a commentBy Ed Silverman // March 8th, 2007 // 4:17 pm
This ain’t no foolin’ around, says Tom Ryan, the retailer’s ceo.
The drug-store chain sweetened its bid for Caremark by increasing the cash dividend to $7.50 a share, making its offer worth about $24.8 billlion. By comparison, a rival bid from Express Scripts is worth $26 billion, but faces additional anti-trust scrutiny. In a tough-talking statement, Ryan says the Express Scripts offer “remains fraught with risk, challenges and certain loss of shareholder value.”
You can read more here:
The CVS statement;
Bloomberg News;
Associated Press;
Reuters;
The Wall Street Journal (subscription required).
[tags]Caremark, CVS, Express Scripts[/tags]