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CVS, Jean Coutu Group to buy Eckerd's chain

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J.C. Penney's selling Eckerd drugstore chain for more than $4.5B to CVS, Jean Coutu Group




The Associated Press

Pedestrians walk by a Jean Coutu pharmacy in dowtown Montreal Friday, April 2, 2004. The Jean Coutu Group, a Canadian company that sources said is nearing a deal to buy part of the Eckerd drugstore chain from J.C. Penney Co. confirmed Friday that it is negotiating to buy U.S. stores. Sources close to the situation told The Associated Press on Thursday that Montreal-based Coutu and Woonsocket, R.I.-based CVS Corp. are close to a deal to buy Eckerd for about $4.4 billion in cash. (AP PHOTO/CP, Ryan Remiorz)


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