Cvs: Drugstore Cowboy
Is CVS Corp. taking growth hormones? On Feb. 9, the drug chain announced it would acquire Detroit-based Arbor Drugs Inc. in a $1.48 billion stock deal. The next day, New York rival Duane Reade got caught in the CVS whirlwind: On the first day of public trading, Duane Reade's shares closed 31% above their IPO pricing, partly on speculation that the chain might be CVS' next target.
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