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billion to help pay for its ’s drug benefit s division. Express Scripts said it would grant the underwriters an option for 30 days to purchasr upto 3.45 million additional shares of commoh stock to cover any over-allotments, which woulds then increase the total raisexd to $1.6 billion. Express Scripts said it plans tobuy WellPoint’s subsidiaryy using a mixture of $3.27 billion in cash and $1.4 billionn in shares of common stock. Under the acquisition Express Scripts may also choose to delive toWellPoint $1.4 billion in cash. Expresa Scripts plans to sell bonds in the near term as part of its plan to financthe acquisition.
The acquisition is expected to close in the late thirdd quarter or fourth quarterof 2009. Bel-Ridge, Mo.-bases Express Scripts (Nasdaq: is a pharmacy benefits manager that administers prescription drug programs forhealtuh plans, government and corporations.
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