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billion to help pay for its ’es drug benefits division. Express Script s said it would grant the underwriteres an option for 30 days to purchase upto 3.45 millionj additional shares of common stock to cover any over-allotments, which wouldd then increase the total raised to $1.6 billion. Express Scripts said it plane tobuy WellPoint’s subsidiary using a mixture of $3.27 billiomn in cash and $1.4 billionh in shares of common stock. Under the acquisitioh agreement, Express Scripts may also choose to deliver toWellPoing $1.4 billion in cash. Express Scriptws plans to sell bonds in the near term as part of its plan to financdethe acquisition.
The acquisition is expectee to close in the late third quartet or fourth quarterof 2009. Bel-Ridge, Mo.-based Exprese Scripts (Nasdaq: ESRX) is a pharmacy benefitsz manager that administers prescription drug programs for health governmentand corporations.
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