CVS, Target Merger Might Boost Health Of Both Companies
CVS and Target announced a $1.9 billion deal in which CVS will acquire and operate Target's pharmacy services and health clinics.By Matt Patston | June 15, 2015
CVS Health took another bold move toward drug store supremacy — while Target now has nearly $2 billion to go toward revamping its share in the discount retail market.
In a deal announced Monday, CVS will acquire Target's pharmacies and health clinics for $1.9 billion. Those businesses will be rebranded under the CVS banner and will operate as stores within Target stores.
At least initially, the deal appears to be a win-win. CVS now has the consumer reach of hundreds of Target locations, which opens up a new field of potential customers.