Analysis Of Walgreen-Longs Merger Misses Mark: CVS

Law360, New York (October 3, 2008, 12:00 AM EDT) -- Criticisms from an investment group over Longs Drug Stores Corp.'s decision to break off merger talks with Walgreen Co. are erroneous, analytically incomplete and overly general, CVS Caremark Corp. said in a statement Friday.

In the statement, CVS claims that allegations made by CtW Investment Group that either pharmacy chain's takeover bid would pose similar anti-competitive risks had missed the mark. The objections refer to a letter dated Sept. 29 from CtW to Longs' board of directors and an accompanying study of the regulatory risks posed...
To view the full article, register now.