CVS Health (CVS) to Acquire TGT Pharmacies for $1.9B; Cowen Reiterates Outperform
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Notable Mergers and Acquisitions 6/15: (CVS)/(TGT) (NKA) (RYL)/(SPF) (TRAK) (DSKY)
June 15, 2015 9:57 AM EDT* CVS Health Corporation (NYSE: CVS) and Target Corporation (NYSE: TGT) announced that they have entered into a definitive agreement for CVS Health to acquire Target's pharmacy and clinic businesses for approximately $1.9 billion. Through this agreement, CVS Health will acquire Target's more than 1,660 pharmacies across 47 states and operate them through a store-within-a-store format, branded as CVS/pharmacy. In addition, a CVS/pharmacy will be included in all new Target stores that offer pharmacy services. Target's nearly 80 clinic locations will be rebranded as MinuteClinic,... More
Pre-Open Stock Movers 06/15: (NKS) (TRAK) (RDHL) Higher; (DSKY) (MU) (SNDK) Lower (more...)
June 15, 2015 9:27 AM EDTNiska Gas Storage Partners LLC (NYSE: NKA) 201.5% HIGHER; announced today that it and its managing member, Niska Gas Storage Management LLC, have entered into a definitive agreement to be acquired by Brookfield Infrastructure (NYSE: BIP) and its institutional partners. Under the terms of the acquisition agreement, Brookfield will acquire all of Niska`s outstanding common units for $4.225 per common unit in cash and will acquire the managing member and the incentive distribution rights in Niska.
Dealertrack Technologies, Inc. (Nasdaq:... More
CVS Health (CVS) to Acquire Target's (TGT) Pharmacy, Clinic Business in ~$1.9B Deal
June 15, 2015 7:01 AM EDTCVS Health Corporation (NYSE: CVS) and Target Corporation (NYSE: TGT) announced that they have entered into a definitive agreement for CVS Health to acquire Target's pharmacy and clinic businesses for approximately $1.9 billion. Through this agreement, CVS Health will acquire Target's more than 1,660 pharmacies across 47 states and operate them through a store-within-a-store format, branded as CVS/pharmacy. In addition, a CVS/pharmacy will be included in all new Target stores that offer pharmacy services. Target's nearly 80 clinic locations will be rebranded as MinuteClinic, and CVS Health... More
Cowen Raises Price Target on CVS Health (CVS) Following Investor Meetings
June 11, 2015 6:49 AM EDTCowen reiterates an Outperform rating on CVS Health (NYSE: CVS), and raised the price target to $116.00 (from $108.00), following investor meetings with management. Analyst Charles Rhyee says that the addition of OCR allows CVS to provide pharmacy services across the continuum of care.... More
