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CVS buys Target pharm biz for $1.9B
USA Today

Drug store chain CVS Health (CVS) will acquire big-box retailer Target’s (TGT) pharmacy and clinic business for $1.9 billion, the companies said Monday.

More than 1,660 Target pharmacies in 47 states will be rebranded as CVS/pharmacy. Target’s clinics, nearly 80 in total, will be renamed MinuteClinic. The retailers are getting cozier on another front, too. They said Target is seeking locations for new small-format stores that would also have a CVS pharmacy inside.