Mintz Levin Advises CVS Corporation on its Acquisition of Caremark Rx, Inc.

  
    
  
  
    
      Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C., a full-service, 
      480-lawyer AmLaw 100 firm with offices throughout the U.S. and in the 
      U.K., announced it advised CVS Corporation (NYSE: CVS) in its 
      acquisition of Caremark Rx, Inc.(NYSE: CMX), the leading pharmacy 
      benefit services company (PBM).
    
    
      Mintz Levin represented CVS in the antitrust aspects of the transaction, 
      including the Hart-Scott-Rodino review of the transaction by the Federal 
      Trade Commission (FTC). The FTC allowed the initial HSR waiting period 
      to expire without requesting additional information. Mintz Levin also 
      represented CVS in the FTC’s antitrust review 
      of Express Scripts’ (NYSE: ESRX) hostile offer 
      to acquire Caremark. The FTC issued an additional request for 
      information regarding the Express offer, giving the CVS transaction a 
      decisive timing advantage.
    
    
      In addition, Mintz Levin advised CVS on the health care regulatory and 
      real estate aspects of the transaction. The Firm continues to work 
      actively with CVS/Caremark on the integration and implementation of the 
      combined company’s business plan.
    
    
      The transaction, valued at approximately $27 billion, combines one of 
      the nation’s leading pharmaceutical services 
      companies with the nation’s largest retail 
      pharmacy chain. The merger is widely considered to be a transformative 
      event for the health care services market in the United States. The 
      newly merged company, CVS Caremark, will be headquartered in Woonsocket, 
      Rhode Island and CVS CEO, Tom Ryan, will be the CEO.
    
    
      Mintz Levin members Bruce Sokler, Bruce Metge, and Fernando Laguarda 
      headed the antitrust team on the transaction. Health care members Robert 
      Clark, Hope Foster and Ellen Janos advised on the health care regulatory 
      aspects. Members Stephen Friedberg and Andrew Urban handled the real 
      estate aspects.
    
    
      “We were delighted to assist our client of 
      over 20 years, CVS, in the most important acquisition in the Company’s 
      history and one that promises to be a ‘game 
      changer’ in the market for health care 
      services,” said Andrew R. Urban, co-managing 
      member of Mintz Levin. “We look forward to 
      assisting CVS/Caremark in implementing the transformative business plans 
      the merged company intends to pursue for the benefit of consumers and 
      the marketplace.”
    
    
      Mintz Levin is an AmLaw 100 law firm with offices in the US and the 
      UK. The firm has exceptional depth in a broad range of practice 
      areas, but our clients recognize that what sets us apart from other law 
      firms is our industry focus. By truly understanding business 
      drivers and industry trends, we are able to provide our clients with 
      more than just legal advice. We provide legal solutions to our 
      clients' business issues. Since 1933, our lawyers have 
      represented entrepreneurs, emerging growth companies, government 
      agencies, and leaders in primary industries that include Life 
      Sciences/Biotechnology; Technology & Communications; Financial Services 
      & Insurance; Healthcare; Real Estate, Hospitality & Construction; and 
      Retail & Consumer Products. Our practical knowledge combined 
      with our industry expertise enables us to provide our clients with 
      enterprise legal advice that gives their business a competitive 
      advantage in the marketplace. For detailed information on the firm we 
      invite you to visit www.mintz.com.