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Wednesday, Jun 7, 2023

CVS to acquire Longs Drug to expand West Coast reach

Drugstore chain operator CVS Caremark Corp., the largest provider of prescriptions in the country, said Tuesday that it would acquire Longs Drug Stores Corp. for about $2.6 billion. Under the agreement, CVS would pay $71.50 a share in cash for Longs’ 521 drugstores, which are in California, Hawaii, Nevada and Arizona, as well as its RxAmerica subsidiary, a prescription benefits management program. The combination is a natural, Longs Chief Executive Warren F. Bryant said. For the full story visit www.latimes.com/business/la-fi-longs13-2008aug13,0,2569550.story

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