Tuesday, August 12, 2008

Longs Drug Stores Bought by CVS Caremark Corp.

In a deal valued at 2.9 billion dollars, including the assumption of debt, CVS Caremark says they will buy the Longs Drug Story chain. Longs has 521 stores in California, Hawaii, Nevada and Arizona. Longs also operates Rx America, a prescription benefits management program that services 8 million members. The deal is expected to close in the fourth quarter.

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