Mintz Levin Advises CVS Corporation on its Acquisition of Caremark Rx, Inc

Business Wire, March 28, 2007

BOSTON -- Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C., a full-service, 480-lawyer AmLaw 100 firm with offices throughout the U.S. and in the U.K., announced it advised CVS Corporation (NYSE: CVS) in its acquisition of Caremark Rx, Inc.(NYSE: CMX), the leading pharmacy benefit services company (PBM).

Mintz Levin represented CVS in the antitrust aspects of the transaction, including the Hart-Scott-Rodino review of the transaction by the Federal Trade Commission (FTC). The FTC allowed the initial HSR waiting period to expire without requesting additional information. Mintz Levin also represented CVS in the FTC's antitrust review of Express Scripts' (NYSE: ESRX) hostile offer to acquire Caremark. The FTC issued an additional request for information regarding the Express offer, giving the CVS transaction a decisive timing advantage.

In addition, Mintz Levin advised CVS on the health care regulatory and real estate aspects of the transaction. The Firm continues to work actively with CVS/Caremark on the integration and implementation of the combined company's business plan.

The transaction, valued at approximately $27 billion, combines one of the nation's leading pharmaceutical services companies with the nation's largest retail pharmacy chain. The merger is widely considered to be a transformative event for the health care services market in the United States. The newly merged company, CVS Caremark, will be headquartered in Woonsocket, Rhode Island and CVS CEO, Tom Ryan, will be the CEO.

Mintz Levin members Bruce Sokler, Bruce Metge, and Fernando Laguarda headed the antitrust team on the transaction. Health care members Robert Clark, Hope Foster and Ellen Janos advised on the health care regulatory aspects. Members Stephen Friedberg and Andrew Urban handled the real estate aspects.

"We were delighted to assist our client of over 20 years, CVS, in the most important acquisition in the Company's history and one that promises to be a 'game changer' in the market for health care services," said Andrew R. Urban, co-managing member of Mintz Levin. "We look forward to assisting CVS/Caremark in implementing the transformative business plans the merged company intends to pursue for the benefit of consumers and the marketplace."

Mintz Levin is an AmLaw 100 law firm with offices in the US and the UK. The firm has exceptional depth in a broad range of practice areas, but our clients recognize that what sets us apart from other law firms is our industry focus. By truly understanding business drivers and industry trends, we are able to provide our clients with more than just legal advice. We provide legal solutions to our clients' business issues. Since 1933, our lawyers have represented entrepreneurs, emerging growth companies, government agencies, and leaders in primary industries that include Life Sciences/Biotechnology; Technology & Communications; Financial Services & Insurance; Healthcare; Real Estate, Hospitality & Construction; and Retail & Consumer Products. Our practical knowledge combined with our industry expertise enables us to provide our clients with enterprise legal advice that gives their business a competitive advantage in the marketplace. For detailed information on the firm we invite you to visit www.mintz.com.