Caremark Rx Inc. shareholders today approved the company's proposed merger with CVS Corp. by a substantial majority of outstanding share, based on a preliminary tally, according to a Caremark statement. CVS shareholders voted Thursday to approve the proposed merger.
California Public Employees Retirement System, Sacramento, voted its 2,108,179 Caremark shares and its 3,134,410 CVS shares against the merger, according to its website. CalPERS has $229 billion in assets.
The $159.6 billion California State Teachers Retirement System, Sacramento, voted its 2 million Caremark shares and 3 million CVS shares against the merger, said Sherry Reser, CalSTRS spokeswoman.
The $90 billion State of Wisconsin Investment Board, Madison, voted its CVS shares for the merger, according to its website. Further information wasnt available, said Vicki Hearing, spokeswoman.
The C$100 billion (US$85 billion) Ontario Teachers Pension Plan, Toronto, voted its 24,000 Caremark shares against the merger but voted its 39,500 CVS shares in favor of the merger, according to its website.
A statement from Woonsocket, R.I.-based CVS said the company expects the transaction to close early to mid next week, promptly after the vote is certified by IVS Associates, which is overseeing the vote.
Express Scripts Inc., Maryland Heights, Mo., lost a rival bid to acquire Nashville, Tenn.-based Caremark.