Express Scripts Rises As Medco Deal Expected To Close in Q2

Shares of St. Louis based pharmacy benefits manager Express Scripts ESRX have added 1.50% to $54.23 during Tuesday's trading session. The move has come on very heavy volume as ESRX said on Monday that it expects its acquisition of MedcoHealth Solutions MHS to close "by the earlier part of the second quarter." Previously the two companies had advised that the $29.1 billion merger would close in the first half of the year, which could have come as late as June. Around 14 million ESRX shares have traded on the session compared to a 3-month daily average of 7.3 million. MedcoHealth shares are also having a strong day in the wake of the news, rising 2.79% to $70.26. Around 12 million MHS shares have traded during the session compared to a 3-month daily average of 5.1 million.