Caremark-CVS Deal Under Scrutiny
In its initial offer to acquire Caremark Rx (CMX), CVS Corp. (CVS) agreed to substantially boost premiums for insurance that would protect Caremark management and directors from charges of improper backdating of options. The disclosure, made by Caremark in a regulatory filing Feb. 12, bolstered accusations that the company accepted an inadequate takeover bid to get indemnity protection.
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