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Reuters
CVS expects ‘meaningful’ tax benefit from Signify acquisition
CVS, which runs pharmacies, pharmacy benefits manager and the Aetna insurance plans, said on Monday it would pay $30.50 per share, or about $7.6 billion in equity, as well as about $400 million in equity appreciation rights for Signify. CVS anticipates around $1.50 per share in tax benefit from the deal due to the transaction structure, CVS Chief Financial Officer Shawn Guertin said on a conference call on Tuesday, adding that the company could also see some “modest” synergy benefits. The management of the two companies were positive about not losing Signify customers.
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