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Regulatory Actions
Delaware Court Denies Plaintiffs' Request to Enjoin CVS/Caremark Merger
March 15th, 2007
Caremark Rx, Inc. (NYSE: CMX) announced that the Delaware Court of Chancery has denied plaintiffs' motion to enjoin Caremark's planned merger with CVS Corporation (NYSE: CVS). The Court has permitted a shareholder vote on the CVS merger to be held 20 days after Caremark makes supplemental disclosures regarding appraisal rights and the structure of fees to its financial advisors. Caremark will make the supplemental disclosure shortly. Caremark said: "We're pleased with the Court's decision, which will soon provide our shareholders the opportunity to vote on our compelling combination with CVS. The transaction with CVS offers our shareholders...
Source: FDA Law Weekly (2007-03-15)
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