CVS/Caremark Corporation Self Tender Offer to Purchase up to 150 Million Shares Expired Last Night
April 25, 2007
Based on the final count by the depositary for the tender offer, approximately 10.4 million shares of common stock were properly tendered and not withdrawn. Given that the number of shares tendered was less than the number of shares that CVS/Caremark offered to purchase, pro-ration was not necessary. The depositary will promptly issue payment of $35.00 per share for all of the shares properly tendered and not withdrawn.
The company stated that it will continue to evaluate its alternatives for optimizing its capital structure on an ongoing basis.
Lehman Brothers Inc. and Morgan Stanley & Co. Incorporated were dealer managers for the tender offer and Morrow & Co., Inc. was the information agent. Questions regarding the tender offer should be directed to Morrow & Co., Inc. at (800) 245-1502 (Toll-free).