Thursday, March 8, 2007
ExpressScripts increased the cash portion of its $26.1 billion bid for Caremark, but appears to be running out of time as the March 16 shareholder vote on the $25.7 billion CVS-Caremark merger approaches. Yesterday the Delaware Chancery Court refused to postpone further the shareholders' meeting. ExpressScripts also faces rgulatory hurdles at the FTC. See NYTimes, Drug Manager Raises Its Bid for Caremark but Sees Delay and WSJ, Express Scripts Is Dealt Setback By FTC in Bid for Caremark.