CVS Health Corp., the biggest U.S. retailer of prescription drugs, agreed to acquire nursing-home pharmacy Omnicare Inc. for a total enterprise value of $12.7 billion.
CVS will pay $98 per share in cash, the companies said in a statement May 20. Omnicare, with a market value of about $9.2 billion, hired advisers to explore a sale earlier this year. The deal includes about $2.3 billion in debt.
Omnicare delivers drugs and helps senior-living facilities manage residents’ medications. CVS is the nation’s second- largest pharmacy benefits manager, handling drug plans for health insurers and employers. In its most recent quarter, growth ...
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