Express Scripts and Medco Health Solutions, the nation’s top two prescription benefits managers, have agreed to merge in a $29.1 billion deal the companies say would lower the cost of prescription drugs and improve patient health.
Medco shareholders will receive $28.80 in cash and 0.81 shares of Express Scripts stock for each of their shares, a total value of $71.36 based on the company’s July 20 closing price. This represents a 28 percent premium over Medco’s closing price on the same date.
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