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billion to help pay for its ’s drug benefit s division. Express Scripts said it would grant the underwritersw an option for 30 days to purchase upto 3.45 millio additional shares of common stock to cover any which would then increase the totalo raised to $1.6 billion. Expressx Scripts said it plans tobuy WellPoint’sz subsidiary using a mixture of $3.27 billion in cash and $1.4 billionj in shares of common stock. Under the acquisitiojn agreement, Express Scripts may also choose to deliver toWellPoint $1.4 billionm in cash. Express Scripts plans to sell bondxs in the near term as part of its plan to financwethe acquisition.
The acquisition is expectedx to close in the late thircd quarter or fourth quarterof 2009. Bel-Ridge, Mo.-baseds Express Scripts (Nasdaq: ESRX) is a pharmact benefits manager that administers prescription drug programs forhealtjh plans, government and corporations.
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