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CVS Caremark Reportedly in Talks to Buy Brazils DPSP

CVS Caremark Reportedly in Talks to Buy Brazils DPSP

Pharmacy health-care provider CVS Caremark (CVS) is in talks to buy Brazil drugstore chain Drogarias Pacheco Sao Paulo, or DPSP, according to a report by The Wall Street Journal, which noted the company is looking to expand in Latin America's largest nation.

CVS offered 4.5 billion Brazilian reais ($2 billion) to acquire control of DPSP, but the company rejected the offer, the WSJ report said, citing local news magazine Exame. CVS is evaluating making another proposal for DPSP, according to the local newspaper Valor Economico, the report added. CVS was inactive in recent pre-market trading after closing Thursday at $77.21, in a 52-week range of $55.66 to $77.37.

CVS Caremark Reportedly in Talks to Buy Brazils DPSP