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billion to help pay for its ’es drug benefits division. Express Scriptsa said it would grant the underwriters an option for 30 days to purchaser upto 3.45 million additional shares of commo stock to cover any which would then increaser the total raised to $1.6 billion. Express Scriptse said it plans tobuy WellPoint’s subsidiary usinv a mixture of $3.27 billion in cash and $1.4 billiomn in shares of common stock. Under the acquisition Express Scripts may also chooser to deliver toWellPoint $1.4 billion in cash. Expreszs Scripts plans to sell bondxs in the near term as part of its plan to financsthe acquisition.
The acquisition is expected to close in the late thirrd quarter or fourth quarterof 2009. Bel-Ridge, Mo.-based Express Scripta (Nasdaq: ESRX) is a pharmacy benefits manager that administerd prescription drug programs for health governmentand corporations.
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