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Report: CVS bids for Brazilian drugstore chain

  • The bid of about $2B for DPSP - Brazil's third-largest drugstore operator - was rejected, according to local magazine Exame. CVS is being advised by Patria Investimentos, while DPSP retained Morgan Stanley for counsel.
  • CVS +0.75%
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  • The Average Investor
    , contributor
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    CVS's Larry Merlo and team had plans to open up to 30 news stores in Brazil by 2015. Larry said he wanted to "learn" Brazil when he made the buy of the Brazilian drug store chain Onofre a couple years back. I guess he learned and mastered and now wants more of the Brazilian emerging market share. Rather than being taxed upwards of 35% by Tio Sam when bringing money back into the US, makes much more sense in keeping the profits in Brazil and growing the business. Kudos.

     

    Maybe GE can go to Brazil and look at new businesses rather than playing political chicken in France.
    22 May 2014, 08:58 PM Reply Like
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