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Medco shareholders approve merger with Express Scripts

Thursday, December 22, 2011 12:48 PM
Shareholders of Medco Health Solutions have approved a proposed merger with Express Scripts.

With approximately 72% of the shares entitled to vote present in person or by proxy at a special meeting held today, shareholders adopted the agreement and plan of Merger dated July 20, 2011 by a margin of 99% to 1%, based on a preliminary tabulation.

In a non-binding advisory vote, shareholders also approved certain merger-related compensation arrangements for Medco's executive officers by a margin of 95% to 5%, based on a preliminary tabulation.

The merger is pending a parallel meeting of Express Scripts shareholders, required governmental consents, and other customary closing conditions. Medco expects the merger transaction to close in the first half of 2012.

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