Proxy firms support Express Scripts

Express Scripts, a pharmacy benefits manager, has gained ground in its unsolicited pursuit of rival Caremark Rx as four proxy firms recommended that shareholders vote against a bid from a drug store chain.

Express Scripts has been fighting it out with CVS to win Caremark. CVS was the first to bid for Caremark, with a $22bn (€16.9bn) offer that has already received antitrust approval from the Federal Trade Commission.

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