Reuters: Deals: Express Scripts-Medco deal could close next week

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Express Scripts-Medco deal could close next week Mar 28th 2012, 13:51 Tweet Share this Email Print Analysis & Opinion Watchdogs could change Vivendi's EMI tune Related Topics Deals » Global Deals Review: 2011 Q3 » Global Deals Review: 2011 Q2 » Global Deals Review » Hot Stocks » Asian Markets » Inflows Outflows » Chairman and CEO of Medco Inc. David Snow speaks during the Reuters Health Summit in New York May 10, 2011. Credit: Reuters/Mike Segar Wed Mar 28, 2012 9:51am EDT (Reuters) - Express Scripts Inc (ESRX.O) may close its $29 billion acquisition of rival Medco Health Solutions Inc (MHS.N) as soon as next week, the pharmacy benefit managers said on Wednesday. Shares of Medco jumped about 4.5 percent after the companies disclosed the new timelines in securities filings, as investors bet the risk that U.S. antitrust regulators would block the deal was disappearing. Such antitrust concerns have for months kept Medco's share price well below the Express Scripts' offer, although that spread has been gradually narrowing. Express Scripts shares also rose, and were up about 3 percent. In separate filings, Express Scripts and Medco said they expect they may be in a position to close the transaction as soon as the week of April 2. Previously, the companies said they expected the deal would be completed by the earlier part of the second quarter. The companies still cautioned there was no assurance the closing conditions will be satisfied or that the proposed deal will be consummated. Pharmacy benefits managers, or PBMs, handle prescription drug plans for insurance companies and employer clients, and also operate large mail-order pharmacies. Along with CVS Caremark Corp (CVS.N), Express Scripts and Medco are two of the three largest PBMs, and their deal, announced last July, would create the industry's leader by a wide margin. (Reporting By Lewis Krauskopf and Toni Clarke; Editing by Gerald E. McCormick, Dave Zimmerman) Global Deals Review: 2011 Q3 Global Deals Review: 2011 Q2 Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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