WOONSOCKET, R.I.--(BUSINESS WIRE)--Sept. 8, 2008--CVS Caremark
(NYSE: CVS) and Longs Drug Stores Corporation (NYSE: LDG) announced
that the waiting period under the Hart-Scott-Rodino Antitrust
Improvements Act of 1976 relating to CVS Caremark's pending tender
offer for the outstanding shares of Longs Drug Stores expired at 11:59
p.m. on September 5, 2008, thereby satisfying a condition to the
closing of the transaction.
About CVS Caremark
CVS Caremark is the largest provider of prescriptions in the
nation. The Company fills or manages more than 1 billion prescriptions
annually. Through its unmatched breadth of service offerings, CVS
Caremark is transforming the delivery of health care services in the
U.S. The Company is uniquely positioned to effectively manage costs
and improve health care outcomes through its more than 6,300
CVS/pharmacy stores; its Caremark Pharmacy Services division (pharmacy
benefit management, mail order and specialty pharmacy); its
retail-based health clinic subsidiary, MinuteClinic; and its online
pharmacy, CVS.com. General information about CVS Caremark is available
through the Investor Relations portion of the Company's Web site, at
www.cvscaremark.com/investors, as well as through the press room
portion of the Company's Web site, at www.cvscaremark.com/pressroom.
About Longs Drug Stores
Headquartered in Walnut Creek, California, Longs Drug Stores is
one of the most recognized retail drug store chains on the West Coast
and in Hawaii. The Company operates 521 retail pharmacies and offers a
wide assortment of merchandise focusing on health, wellness, beauty
and convenience. Longs also provides pharmacy benefit management
services and Medicare beneficiary prescription drug plans through its
wholly-owned subsidiary, RxAmerica, LLC. Additional information about
Longs and its services is available at http://www.longs.com and more
information about RxAmerica is available at http://www.rxamerica.com.
Additional Information and Where to Find it
This announcement is for informational purposes only and does not
constitute an offer to purchase or a solicitation of an offer to sell
Longs' common stock. The tender offer is being made pursuant to a
tender offer statement on Schedule TO (including the offer to
purchase, letter of transmittal and other related tender offer
materials) filed by CVS Caremark with the Securities and Exchange
Commission (SEC) on August 18, 2008. Longs filed a
solicitation/recommendation statement with respect to the tender offer
on Schedule 14D-9 on August 18, 2008. These materials, as they may be
amended from time to time, contain important information, including
the terms and conditions of the offer and Longs' Board of Directors
recommendation of the tender offer, that should be read carefully
before any decision is made with respect to the tender offer.
Investors and stockholders can obtain a free copy of these materials
and other documents filed by CVS Caremark or Longs with the SEC at the
website maintained by the SEC at www.sec.gov. The tender offer
materials may also be obtained for free by contacting the information
agent for the tender offer, Morrow & Co., at (203) 658-9400 or
(877) 366-1576 (toll-free). The solicitation/recommendation statement
and related materials may also be obtained for free by contacting
(925) 979-3979.
For CVS Caremark:
Media:
Eileen Howard Dunn, 401-770-4561
Senior Vice President
Corporate Communications
or
Investor:
Nancy Christal, 914-722-4704
Senior Vice President
Investor Relations
or
For Longs Drug Stores:
Kekst and Company
Andrea Calise / Melissa Sheer
212-521-4845 or 212-521-4839