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Longs Picks CVS Despite Walgreen's Higher Bid

Investor calls move 'unfair' to shareholders

By Ambreen Ali,  Newser User

Posted Sep 17, 2008 2:41 PM CDT

(Newser) – Longs Drugs today declined Walgreen’s premium buyout offer, opting for CVS’ in the pharmacy-market tussle, the AP reports. Longs’ largest shareholder calls the choice "totally unfair," but the board maintains that a Walgreen deal could get bogged down in antitrust review. Longs'...   Read full story »

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