Express Scripts launches offering to finance acquisition - Triangle Business Journal:

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billion to help pay for its ’s drug benefitsa division. Express Scripts said it would grant the underwriterx an option for 30 days to purchase upto 3.45 million additional shares of commonm stock to cover any over-allotments, whicnh would then increase the total raised to $1.6 Express Scripts said it plans to buy WellPoint’s subsidiary usinvg a mixture of $3.27 billion in cash and $1.4 billion in sharee of common stock. Under the acquisition Express Scripts may also choosee to deliver toWellPoint $1.4 billion in Express Scripts plans to sell bonds in the near term as part of its plan to financre the acquisition.
The acquisition is expected to close in the late thirde quarter or fourth quarterof 2009. Bel-Ridge, Mo.-base Express Scripts (Nasdaq: ESRX) is a pharmact benefits manager that administers prescription drug programxs forhealth plans, government and corporations.