Express Scripts (ESRX) To Acquire WellPoint's (WLP) NextRx For $4.675B
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Express Scripts, Inc. (Nasdaq: ESRX) announced plans to acquire WellPoint's (NYSE: WLP) NextRx subsidiaries for $4.675 billion.
WellPoint NextRx subsidiaries provide PBM services to approximately 25 million Americans and manage more than 265 million adjusted prescriptions annually. The transaction includes a 10-year contract for Express Scripts to provide services to WellPoint, one of the nation's largest health benefits companies, following closing of the transaction.
The transaction is expected to close in the second half of 2009, subject to customary closing conditions and the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.
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