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Giant pharmacy deal will fail to break top 10

A drugstore chain has agreed to buy a pharmacy benefits manager in a $20.8bn (€16.3bn) merger of equals - but despite its size, the deal will not even break the top 10 list of the largest deals of the year worldwide.

JP Morgan and UBS Investment Bank are advising Caremark Rx, the drug benefits administrator. CVS, the health retailer, is taking advice from Evercore Partners and Lehman Brothers.

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