Paul Weiss Reps Universal In $1.25B CVS Deal

Law360, New York (January 3, 2011, 6:32 PM EST) -- CVS Caremark Corp. has agreed to buy New York-based Universal American's Medicare Part D business for $1.25 billion, more than doubling the size of the drugstore operator and pharmacy benefits manager's share in the program.

Shareholders of Universal American, a leading Medicare prescription drug plan sponsor, are expected to receive about $12.80 to $13 per share as part of the deal, Universal American said in a statement Friday.

The transaction, subject to the approval of Universal American shareholders and regulators, is expected to close by the...
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