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Express Scripts to buy Medco Health for $29 billion: report


    (Reuters) - Express Scripts Inc has agreed to buy rival Medco Health Solutions Inc for about $29 billion, combining two of the largest U.S. pharmacy-benefit managers, the Wall Street Journal reported, citing sources.

    Express Scripts was expected to pay $71.36 per share in cash and stock for Medco, the newspaper said on Thursday.

    Medco shares closed at $55.78 on Wednesday.

    The deal was signed early Thursday morning and could be announced on Thursday, the Journal said.

    An Express Scripts spokesperson declined to comment to Reuters on the report.

    Medco Health Solutions could not be reached for comments.

    (Reporting by Renju Jose in Bangalore; Editing by Dan Lalor)