Medco, Investors Settle Over $29B Express Scripts Merger

Law360, Wilmington (November 9, 2011, 8:03 PM EST) -- Medco Health Solutions Inc. agreed Monday to resolve shareholder class actions in Delaware and New Jersey federal court challenging the pharmacy benefit manager’s controversial $29 billion proposed merger with rival Express Scripts Inc.

In return for shareholders dropping the suits, the merger partners agreed to file additional disclosures on the deal in a proxy statement with the U.S. Securities and Exchange Commission, reduce a $950 million termination fee — payable to Express Scripts if the deal falls through — to $650 million, and reschedule a shareholder...
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