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Caremark/CVS Merger Ruling Gets Praise

Law360 (February 26, 2007, 12:00 AM EST) -- A court’s decision not to ban the proposed Caremark merger with CVS, but to halt a shareholder vote on the deal, has won unanimous approval.

The ruling of Delaware’s Court of Chancery appears to have buoyed everybody, according to statements released by Caremark, the company’s shareholders, CVS and rival bidder Express Scripts.

Chancellor William Chandler, in his 41-page decision Friday, stopped short of granting Express Scripts' wish to enjoin the proposed CVS deal.

But he did rule that the merger vote could not take place until...
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