Express Scripts amends Medco merger agreement; lowers termination fee
ST. LOUIS — In an amendment dated Nov. 7 and filed to the Securities Exchange Commission on Tuesday, Express Scripts reduced its termination fee by 32% to $650 million. The termination fee is paid to one company when the other terminates the merger agreement.
The change was made to settle lawsuits against Medco accusing the company of selling itself too cheaply to Express Scripts, according to a research note by Bank of America Merrill Lynch analysts published on Tuesday, as reported by the New York Times. The lower fee may create more interest among rivals hoping to compete for Medco, the analysis concluded.
Rite Aid EVP human resources elected to Children’s Miracle Network Hospitals board of governors
CAMP HILL, Pa. — The Children’s Miracle Network Hospitals has elected Rite Aid EVP human resources Brian Fiala to its board of governors, Rite Aid said Tuesday.
The organization, which raises money for 170 children’s hospitals across North America, elected Fiala, who began at Rite Aid in 2007 as EVP store operations and was named EVP human resources in July, at its recent annual board meeting in Orlando, Fla.
"Rite Aid has been a tremendous partner to our hospitals for 17 years, and we know Brian is a great addition to our board of governors," Children’s Miracle Network Hospitals CEO John Lauck said. "We’re looking forward to his contributions and appreciate the commitment Brian has made to help grow Children’s Miracle Network Hospitals."
Fiala’s roles at the organization will include development and fundraising. Rite Aid has raised more than $50 million for the organization since becoming a sponsor in 1994.
"Since joining the Rite Aid team, I’ve been so impressed by the passion our associates have for Children’s Miracle Network Hospitals, not only during our annual paper Miracle Balloon campaign each spring, but throughout the year," Fiala said. "It’s an honor to represent them on the board of governors, and I look forward to advancing the mission of Children’s Miracle Network Hospitals and helping the kids who need it the most."
Ball boosts beverage can portfolio
BROOMFIELD, Colo. — A beverage can supplier has introduced a new can in the North America market.
Ball said its 568-mL can (which is about 19.2 oz.) is 100% recyclable and is ideal for energy drinks, teas, alcoholic beverages and other premium products. The can touts a unique size, having the approximate height of a 24-oz. can and the diameter of a 16-oz. can.
With this introduction, Ball now offers more than 20 can sizes worldwide.