UPDATE: Express Scripts and Medco Health Solutions Complete Merger

Express Scripts

completed its previously announced $29.1 billion acquisition of Medco Health Solutions

today, creating the country's leading healthcare services company. Following consummation of the acquisition, each share of pre-closing Medco common stock was converted into (i) the right to receive $28.80 in cash, without interest and (ii) 0.81 shares of common stock of the new Express Scripts, a holding company which will own 100% of each of the existing Express Scripts and Medco, and each share of the pre-closing Express Scripts common stock was converted into one share of new Express Scripts common stock. As previously announced, the company expects synergies of $1 billion once fully integrated, which represents approximately 1 percent of the combined company's costs. The transaction is expected to be slightly accretive to earnings per share (excluding integration and deal-related costs and charges) in the first full year after closing and moderately accretive once fully integrated.