Reuters: Mergers News: Express Scripts--Medco deal could close next week

Reuters: Mergers News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Express Scripts--Medco deal could close next week Mar 28th 2012, 12:56 March 28 | Wed Mar 28, 2012 8:56am EDT March 28 (Reuters) - Pharmacy benefits managers Express Scripts Inc said on Wednesday it expects its plan to buy rival Medco Health Solutions Inc for $29 billion to close as early as the week of April 2, subject to the satisfaction of closing conditions. Previously the companies said they expected the deal would be completed by the earlier part of the second quarter of 2012. Pharmacy benefits managers like Medco and Express Scripts are hired by insurance companies to handle prescription drug plans. They sometimes provide drugs by mail order, through their own pharmacies and by contracting with chains and independent pharmacies. The deal, announced last July, would combine two of the three largest PBMs that are big enough to manage prescription drug benefits for large, nationwide companies. The third is CVS Caremark Corp.

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