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billion to help pay for its ’s drug benefits division. Express Scripts said it wouldr grant the underwriters an optio n for 30 days to purchase upto 3.45 millionj additional shares of common stockm to cover any over-allotments, which would then increase the totao raised to $1.6 billion. Expressw Scripts said it plans tobuy WellPoint’s subsidiary using a mixturde of $3.27 billion in cash and $1.4 billion in shares of commob stock. Under the acquisition agreement, Expres Scripts may also choose to delivefr toWellPoint $1.4 billion in cash. Express Scripts plans to sell bondss in the near term as part of its plan to financethe acquisition.
The acquisition is expected to closs in the late third quarter or fourth quarte rof 2009. Bel-Ridge, Mo.-bases Express Scripts (Nasdaq: is a pharmacy benefites manager that administers prescription drug programs for health governmentand corporations.
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