Express Scripts Inc (ESRX.O) will purchase rival Medco Health Solutions Inc (MHS.N) for $29.1 billion in cash and stock to create a powerhouse in managing prescription drug benefits in the United States, the companies said on Thursday. The offer is for $71.36 per share, a 28 percent premium to Medco's adjusted closing price on Wednesday. Medco shareholders will receive $28.80 in cash and 0.81 shares for each Medco share they own, according to the terms of the deal.
Express Scripts, Inc. is a pharmacy benefit management (PBM) operating in North America, offering a range of services to its clients, which include health maintenance organizations (HMOs), health insurers, third-party administrators, employers, union-sponsored benefit plans, workers? compensation plans and Government health programs. Shares of ESRX remained unchanged at $52.54. In the past year, the shares have traded as low as $41.55 and as high as $60.89. On average, 5070640 shares of ESRX exchange hands on a given day and today's volume is recorded at 0.
Medco Health Solutions, Inc. (Medco) is a healthcare company. Shares of MHS remained unchanged at $55.78. In the past year, the shares have traded as low as $43.45 and as high as $65.39. On average, 3589600 shares of MHS exchange hands on a given day and today's volume is recorded at 0.
Source
