March 9, 2007 |
CVS Corp., the second-biggest U.S. drugstore chain, boosted its offer for Caremark RX Inc. for a third time, a day after Express Scripts Inc. raised its bid. CVS increased the dividend it would pay Caremark shareholders by $1.50, to $7.50, bringing the total to $60.43 a share in cash and stock. Woonsocket, R.I.-based CVS called the offer final.
February 14, 2007 |
A Delaware judge ordered Caremark Rx Inc. to delay a shareholder vote on a proposed acquisition by CVS Corp. just hours after the drugstore operator heated up the bidding by tripling the special cash dividend it proposes to pay. Caremark shareholders were initially scheduled to meet Feb. 20, but the vote was delayed until March 9 in an order signed by Chancellor William B. Chandler III.
March 17, 2007 |
Caremark Rx Inc. shareholders approved a $26.5-billion takeover bid by CVS Corp., creating one of the largest competitors in the prescription drug industry, the company said. For months, CVS has been in a bidding war for Caremark with Express Scripts Inc. But increased antitrust scrutiny of the Express Scripts' proposal and its decision this week not to increase the offer turned the bidding war in CVS' favor, some analysts said. The combined company, to be called CVS/Caremark Corp.
January 18, 1994 |
Medical Care America to Sell Unit: The Dallas-based company said it has agreed to sell Critical Care America, the home infusion services unit it acquired only 1 1/2 years ago, to Northbrook, Ill.-based Caremark International Inc. for about $175 million in cash. The company plans to use proceeds from the sale, along with up to $50 million of its own cash, to buy back up to 7 million of its 36.
July 27, 1990 |
Newport Pharmaceuticals International Inc. said Thursday it has settled a breach-of-contract lawsuit involving its 1987 acquisition of a mail-order pharmacy business from Caremark Inc., a home health-care company formerly based in Irvine. Judy Archbald, Newport Pharmaceuticals' general counsel, said a settlement agreement signed Wednesday calls for Newport Pharmaceuticals to receive $4 million from Baxter Corp., the giant Illinois health-care conglomerate that now owns Caremark.