Walgreen Makes Rival Bid for Longs Drugs Stores
Late Friday, Walgreen made a surprise $75-per-share bid for Longs Drug Stores. Walgreen's $2.7 billion offer tops CVS Caremark's earlier offer of $2.57 billion. The competing bids put Walgreen and CVS Caremark in a battle for West Coast dominance.
- "Walgreen Jumps in With Rival Bid for Longs Drug" (Merrick/Armstrong, Wall Street Journal, 9/15).