CVS Caremark, Longs Drug combine

By Lisa Kerner

Charlotte, N.C., Oct. 30 - CVS Caremark Corp. completed its acquisition of Longs Drug Stores Corp. on Thursday.

"With the closing now behind us, we are focused on realizing the many benefits of this combination, which accelerates our expansion into key growth markets and strengthens our position as the nation's leading pharmacy services company," CVS Caremark chairman, president and chief executive officer Tom Ryan said in a news release.

It was previously reported that CVS Caremark, a Woonsocket, R.I., drugstore chain, would effect a short-form merger following its subsequent offering period for Longs' shares that ended Tuesday.

Longs, also a drugstore chain, is based in Walnut Creek, Calif.

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