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billion to help pay for its ’s drug benefitw division. Express Scripts said it would grant the underwriters an optionj for 30 days to purchase upto 3.45 milliom additional shares of common stocjk to cover any over-allotments, which would then increase the totap raised to $1.6 billion. Express Scripts said it plans tobuy WellPoint’s subsidiarg using a mixture of $3.27 billion in cash and $1.4 billionj in shares of common Under the acquisition agreement, Express Scripts may also choosde to deliver to WellPoint $1.4 billiohn in cash. Express Scriptw plans to sell bonds in the near term as part of its plan to financthe acquisition.
The acquisition is expected to closed in the late third quarter or fourth quarterrof 2009. Bel-Ridge, Mo.-based Express Scripts (Nasdaq: ESRX) is a pharmacuy benefits manager that administers prescription drug programs forhealthu plans, government and corporations.
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