US drugstore chain CVS has announced its “best and final” offer for its proposal to merge with Caremark. Following the close of the merger, CVS and Caremark will increase the special cash dividend payable to Caremark shareholders to USD7.50 per share. The companies will also commence a cash tender offer for USD150 million, about 10%, of its outstanding shares at a fixed price of USD15 per share. CVS shareholders will meet on March 15 to approve the transaction, while Caremark shareholders will meet the following day. The original terms of the merger remain unchanged.
