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The Wall Street Journal reports this morning that CVS shareholders have approved the chain’s $26 billion proposed takeover of Caremark Rx, which would merge one of the nation’s largest drugstore chains with the largest pharmacy-benefits manager, creating a major player in the health-care industry, with significant buying power in generic drugs and dominant positions in numbers of retail outlets and mail-order capability.

Caremark shareholders are scheduled to vote on the deal today. If they approve it, the deal is expected to close shortly.

The CVS offer has been boosted three times in order to compete with bids made by Caremark rival Express Scripts.
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