Deals
CVS to Buy Omnicare in $12.7 Billion Pharmacy Expansion Deal
(Bloomberg) -- Bloomberg’s Ed Hammond examines what the acquisition of Omnicare means for CVS Health going forward. He speaks on “Market Makers.” (Source: Bloomberg)
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CVS Health Corp. agreed to acquire nursing-home pharmacy Omnicare Inc. in a deal valued at $12.7 billion, adding services for the elderly to bolster its position as the biggest U.S. retailer of prescription drugs.
CVS will pay $98 per share in cash, the companies said in a statement on Thursday. Omnicare, with a market value of about $9.2 billion, hired advisers to explore a sale earlier this year. The deal includes about $2.3 billion in debt.