CVS to take over Target’s pharmacies in acquisition deal

Retail pharmacy chain CVS announced its acquisition of Target’s pharmacy department for $1.9 billion, The Washington Post revealed on June 15.

The deal will result in the rebranding of Target’s 1,660 pharmacies and 80 in-store clinics to CVS. This would enable the drugstore chain to establish its market in key cities where their presence has been lacking, such as Denver, Seattle, and Portland. The deal will also allow Target to focus their strength on areas where they perform best, such as baby products and fashion.

The acquisition is pending approval by the regulators.

CVS currently has 7,800 drugstores nationwide. Last May, the pharmacy chain bought Omnicare for $10.4 billion.

Acquisitions like this could be beneficial not just to the acquiring company, but to the company selling as well. A business attorney at Arenson Law Group, PC, has the experience and resources to help you get the most out of a business deal. Call (319) 363-8199 to seek guidance on your business’ next moves today.

NXP and Freescale unite in $40 billion merger

Two global semiconductor companies have entered a multi-billion dollar buyout that is expected to reshape the world’s tech industry, KVUE reported on Monday, March 2.

Dutch company NXP Semiconductors acquired Austin-based Freescale Semiconductor Inc. in a buyout worth more than $11 billion. Combined, the two companies are expected to be worth about $40 billion. The deal would also allow the Dutch company to diversify its business portfolio and expand into additional markets, such as the automotive and appliance industries.

Freescale has a large work base of 16,000 employees. Austin economist Angelos Angelou said he is not expecting any lay-offs to occur in its wake.

Mergers and acquisitions often allow businesses to establish wider market coverage. If you want to learn more about the legal intricacies surrounding these business processes, a Cedar Rapids-based business lawyer at Arenson Law Group, PC can advise you and, if appropriate, guide you through this process. Call us at (319) 363-8199 today.

FTC approves clearance of Medtornic’s acquisition of Covidien

The U.S. Federal Trade Commission (FTC) has announced its regulatory clearance of Medtronic’s $43 billion acquisition of Irish medical-supply company Covidien on November 26, but under certain conditions, Nasdaq reported.

Because the FTC believes the purchase will be anticompetitive as both companies are developing drug-coated catheters for U.S. consumers, the agency required Medtronic to sell Covidien’s catheter business unit to Colorado-based Spectranetics Corp. To resolve the issue, Medtronic has already announced the $30 million sale earlier this month.

The buyout, which would combine two of the biggest medical supply makers in the world, is expected to conclude in early 2015.

Acquisitions such as this would require meeting all the regulatory and legal prerequisites before being finalized. As such, it is important to seek the help of a qualified and experienced acquisitions attorney who can help you breeze through its necessary legal steps. Speak with a Cedar Rapids business lawyer at Arenson Law Group, PC, by calling (319) 363-8199 today.

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