Business Update

Express Scripts nominates four directors for Caremark board of directors

Published in Drug Law Weekly, February 6th, 2007

Express Scripts, Inc. (ESRX) announced that it provided notice to Caremark Rx, Inc., (CMX) of its intention to nominate four candidates for election to the Caremark board of directors at the company's upcoming annual meeting of stockholders.

On December 18, 2006, Express Scripts announced its proposal to acquire Caremark for $29.25 in cash and 0.426 shares of Express Scripts stock for each share of Caremark stock. Express Scripts noted that while it would prefer to meet with the Caremark board and management to negotiate a transaction between Express Scripts and Caremark, it is taking this action in light of the Caremark board rejection and refusal to even discuss our...

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Source: Drug Law Weekly (2007-02-06)

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