Two Suits Attempt To Derail CVS-Caremark Merger

Law360, New York (January 10, 2007, 12:00 AM EST) -- The merger between drug retail and mail order giants CVS Corp. and Caremark Rx Inc. met more opposition Wednesday, when Caremark stockholders and other interested parties filed two suits in Delaware Chancery Court in an effort to block the union.

The Louisiana Municipal Police Employees’ Retirement System filed the first suit, alleging that Caremark board’s unanimous support of CVS’ $21 billion bid benefited the board members more than stockholders.

The lawsuit brought by the public pension fund, which holds Caremark stock, contends that company board members...
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