WOONSOCKET, R.I. CVS Caremark on Tuesday reminded stockholders of Longs Drug Stores to tender their shares into CVS Caremark’s offer before the Oct. 15 deadline.
The tender offer is slated to expire at midnight, Eastern time, at the end of the day Wednesday, Oct. 15.
“CVS Caremark’s offer of $71.50 per share is our best and final offer. It has cleared all regulatory hurdles and is fully financed and ready to close. Further, our offer represents a compelling opportunity for Longs stockholders to realize substantial and certain value for their shares under extraordinary difficult economic and financing conditions,” said Tom Ryan, chairman, president and chief executive officer of CVS Caremark. “We look forward to completing our merger with Longs and to welcoming our Longs colleagues to the CVS Caremark family.”