Mergers and Acquisitions Recap: Express Scripts Sighs, Molycorp Rumors
With the expected official approval by the FTC received, Express Scripts (NASDAQ:ESRX) closes its $29.1 billion acquisition of Medco (NYSE:MHS). Express Scripts will retain its name, and will take three of Medco’s executives into its leadership ranks, but not its CEO David Snow. Walgreen’s (NYSE:WAG) contract with Medco will be honored, regardless of the company’s dispute with Express.
Don’t Miss: Here’s Why Express Scripts Shares are Popping.
Shares of Molycorp (NYSE:MCP) soar as Bloomberg opines that the company might be ripe for acquisition. One hedge fund manager predicts that Molycorp shares could bring $60, compared to the Friday close of $33.83. Possible shoppers for the company are thought to be BHP and Rio Tinto (NYSE:RIO).
Defining Johnson Controls’ (NYSE:JCI) marine container and boiler business as a synergistic fit with its own marine retail solutions unit, Emerson Electric (NYSE:EMR) buys the business for an undisclosed amount.
Illumina (NASDAQ:ILMN) says its Board unanimously rejects Roche’s (RHHBY.PK) revised $51/share takeover offer, claiming the offer still undervalues ILMN and does not adequately reflect the company’s singular position in an industry poised for extraordinary growth.
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