Moosy'a Affirms CVS Health's (CVS) 'Baa1' Senior Unsecured Rating Amid Target (TGT) Asset Deal

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Go back to Moosy'a Affirms CVS Health's (CVS) 'Baa1' Senior Unsecured Rating Amid Target (TGT) Asset Deal

CVS Health (CVS) to Acquire Target's (TGT) Pharmacy, Clinic Business in ~$1.9B Deal

June 15, 2015 7:01 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, and CVS Health... More