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Walgreen Withdraws Bid for Longs Drug Stores
Walgreen(WAG Quote) has decided to drop its pursuit of Longs Drug Stores(LDG Quote), citing the broad financial meltdown.
Walgreen had offered $75 per share in cash -- which was higher than the CVS Caremark(CVS Quote) offer of $71.50 per share in cash. The board for Long's Drug Stores refused to discuss any agreement with Walgreen's management. ...
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