Court Halts Caremark-CVS Merger Vote

Law360, New York (February 13, 2007, 12:00 AM EST) -- A court has put a stop to Caremark’s proposed meeting to vote on a merger with drug store chain CVS, after shareholders said they were being coerced into an unfair deal.

The Delaware Chancery Court said Tuesday it was not confident all shareholders could make an informed choice if required to cast their ballot at the Feb. 20 meeting, and ordered an injunction on any merger vote until at least March 9.

Chancellor William Chandler said he based his decision to impose a temporary restraining order...
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