FRANKLIN LAKES, N.J. — Medco Health Solutions Inc. shareholders have approved the company’s proposed merger with Express Scripts Inc.
Medco said that with about 72% of the shares entitled to vote present in person or by proxy at a special meeting held Wednesday, stockholders adopted the agreement and merger plan by a margin of 99% to 1%, based on a preliminary tally.
Final clearance for merger is pending a meeting of Express Scripts shareholders, regulatory approvals and other closing conditions. Medco said it expects the merger transaction to close in the first half of 2012.
The two pharmacy benefit managers (PBMs) announced the blockbuster merger agreement in late July. At the time, the cash and stock deal was valued at $29.1 billion.
