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CVS Health to buy Omnicare in $12.7 billion deal

Pedestrians walk by a CVS store in San Francisco.
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Pedestrians walk by a CVS store in San Francisco.

Drugstore operator CVS Health said it will acquire pharmacy service provider Omnicare for an enterprise value of about $12.7 billion.

The $98 per share offer represents a premium of 4 percent over Omnicare's closing price on Wednesday.

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The deal includes debt of about $2.3 billion.