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Express Scripts describes offer for Caremark as superior

Published in Drug Law Weekly, February 6th, 2007

Express Scripts, Inc. (ESRX) issued the following statement in response to the announcement by Caremark Rx, Inc. (CMX) that its board of directors has rejected the Express Scripts offer:

"Our offer represents a superior proposal. Caremark stockholders and the marketplace as a whole have demonstrated their strong support for our offer, which clearly provides Caremark stockholders with superior value to the proposed acquisition of Caremark by CVS Corporation (CVS). The advantages of an Express Scripts-Caremark combination are compelling. We remain committed to pursuing a combination of our two companies to create superior value for our respective stockholders, plan...

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