In Brief: CVS-Revco merger
This article was originally published in The Tan Sheet
Executive Summary
CVS-Revco merger: FTC votes 4-0 to give final approval to consent order requiring CVS to sell 120 stores in Virginia and Binghamton, N.Y. to qualify for Revco acquisition, the agency announces Aug. 15. FTC alleged that the merger would cause the combined entity to have a dominant position in the two regional markets, giving the chain the ability to increase prices in the wake of decreased competition ("The Tan Sheet" June 2, p. 16)...
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