Advertisement
YOU ARE HERE: LAT HomeCollectionsReal_estate

Business Briefing / RETAIL

Longs investors question deal

September 05, 2008|From Times Wire Services

Some Longs Drug Stores Corp. shareholders said they would oppose CVS Caremark Corp.'s $2.7-billion offer to buy the company if Longs didn't tell them more about the value of its real estate.

CVS Caremark agreed to pay $71.50 a share for Longs to gain more than 500 stores. CVS valued Longs' real estate at about $1 billion. But CtW Investment Group said the price was too low by as much as $260 million, and two major Longs shareholders said they wanted to know more about how the real estate was valued.

Advertisement
Los Angeles Times Articles
|
|
|