.gif&contenttype=gif "HawaiiKeiki.org")
| Walgreens Pulls $2.8B Proposal to Buy Longs |
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| Written by KGMB9 News - news@kgmb9.com | |||
| October 08, 2008 05:47 PM | |||
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On Wednesday, Walgreens pulled its $2.8 billion proposal to buy Longs Drug Stores. That clears the way for CVS Caremark to proceed with its lower bid of $2.7 billion, which has been approved by regulators. Walgreens said it withdrew its bid due to the deteriorating economy and because Longs had refused to hold constructive talks. Some longs shareholders have criticized the CVS deal saying it may undervalue Longs' real estate.               |
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| Last Updated ( October 17, 2008 08:52 PM ) | |||
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