Egg on Caremark's Face

A critic has now compared Caremark's (CMX Quote) board to a doomed nursery rhyme character in a famously twisted tale.

When reviewing the surreal plot line behind Caremark's planned merger with CVS (CVS Quote), Delaware Chancellor William Chandler felt as if he were reading about Humpty Dumpty in Lewis Carroll's Through the Looking Glass.

On the one hand, Chandler noted, Caremark has claimed that the company is simply merging with CVS and not really changing hands at all. But on the other hand, Chandler mused, Caremark fully expects the deal to trigger change-of-control payments that will shower its leaders with riches. ...