Monday, October 20, 2008

Longs Drug Store Buyout Done Today

By Chris Thompson
Mon, Oct 20, 2008 at 4:27 PM

Barring nuclear war, the national pharmaceutical chain CVS Caremark will finish buying up Longs Drug Stores today, the S.F. Biz Times reports. Walgreen mounted an unexpected rival offer in the midst of negotiations, but the effort fell apart. Sometime today, CVS will secure the approval of two-thirds of Longs Drugs shareholders, and one chain will have finished gobbling up another.

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