Express Scripts Inc said it agreed to cut the termination fee on its pending $29 billion takeover of Medco Health Solutions Inc .In a regulatory filing on Tuesday, Express Scripts said the companies agreed to reduce the termination fee on the deal to $650 million. However, if either company changes its recommendation on the merger, the termination fee would still be $950 million.In July, both companies signed the biggest ever deal in the healthcare services industry to create a pharmacy benefits nmanager that has access to nearly one-third of the entire American market.Shares of Express Scripts had closed at $47.09 Monday on Nasdaq, while Medco shares closed at $57.11 on the New York Stock Exchange.
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 $47.09. In the past year, the shares have traded as low as $35.69 and as high as $60.89. On average, 9249420 shares of ESRX exchange hands on a given day and today's volume is recorded at 0.
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