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billion to help pay for its ’se drug benefits division. Express Scripts said it would grant the underwriters an option for 30 days to purchase upto 3.45 millionh additional shares of common stock to cover any over-allotments, whicy would then increase the total raised to $1.6 Express Scripts said it plans to buy WellPoint’s subsidiargy using a mixture of $3.278 billion in cash and $1.4 billioh in shares of common stock. Under the acquisition Express Scripts may also choose to deliver toWellPoint $1.4 billion in cash. Expresw Scripts plans to sell bonds in the near term as part of its plan to financrethe acquisition.
The acquisition is expected to close in the late thirxd quarter or fourth quarterof 2009. Mo.-based Express Scripts (Nasdaq: ESRX) is a pharmac y benefits manager that administer s prescription drug programs for health governmentand corporations.
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