Health Care Deal News
- CVS Announces Acquisition of Longs Drug for $2.9 Billion. CVS Caremark Corp. (CVS) announced the $2.9 billion dollar acquistion of Longs Drug Stores (LDG), resulting in the addition of 521 drug stores in California, Hawaii, Nevada and Arizona. According to the press release, the network of stores opens the doors to highly attractive markets. Shares of CVS stock closed down .49 at 38.05, off 1.27%, and shares of LDG closed at 54.04, off 1.07 or 1.94%. Check out the story from MarketWatch.
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Icahn Announces Stake in Biogen Idec, Inc. Activist investor Carl Icahn announced his 6.03 percent stake in the common stock of Biogen Idec Inc., a biotechnology company. Icahn reports that he raised his stake because the shares were undervalued. Note that a link to Icahn's blog has been added to the blogroll.
