Can you provide information regarding the merger of Caremark Rx with CVS Corporation along with cost-basis information?
On 3/22/2007, Caremark Rx, Inc. (NYSE:CMX) merged with a subsidiary of CVS Corporation (NYSE:CVS). Caremark shareholders received 1.67 shares of CVS Caremark Corporation (NYSE:CVS), for every share of Caremark owned, with any fractional shares paid in cash. For example, an owner of 100 shares of Caremark became the owner of 167 shares of CVS Caremark Corporation (100 shares of CMX x 1.67 = 167 shares of CVS). The cost basis of your CVS Caremark stock is as follows: CVS Caremark cost basis = (cost basis of Caremark) / 1.
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