Caremark: FTC Request Shows Express Scripts Bid May Fail

Caremark Rx said on Friday a second request for information from U.S. antitrust regulators into a takeover offer from Express Scripts is evidence the bid from the rival pharmacy benefit manager may not be able to be completed.

"This action by the (U.S. Federal Trade Commission) is clear evidence that this highly conditional, highly leveraged proposal can not be completed for many months, if ever,"
Caremark said in a statement.

Caremark urged its shareholders to support a bid by drug-store chain CVS. Caremark shareholders are scheduled to vote on the CVS bid on March 16.