CVS Caremark's USD 2.2bn bid for DPSP rejected, negotiations continue
CVS Caremark (NYSE: CVS), the Rhode Island-based US drug store chain, continues to negotiate to buy Drogarias DPSP, the second-largest drugstore chain in Brazil, Exame reported.
CVS is not desisting from buying DPSP after its bid of about BRL 5bn (USD 2.2bn) in August was rejected through Banco Espirito Santo and Morgan Stanley, the representatives of the owners of DPSP, the fortnightly business magazine reported without giving a source.
CVS and DPSP didn’t respond to an opportunity to comment, according to Portuguese-language Exame.
CVS, one of the largest US drugstore chains, bought control of Drogaria Onofre, Brazil's eighth-largest drugstore chain in sales, in early 2013, as reported.
Exame