Express Scripts’s Common Stock and Notes Offerings

On June 5, 2009, Express Scripts, Inc. announced that it priced an offering of 23 million shares of its common stock at a price to the public of $61 per share, with gross proceeds of approximately $1.4 billion. The company also announced that it priced a $2.5 billion offering of senior notes. The underwriters will have a 30-day option to purchase up to an additional 3.45 million shares of common stock from the company, solely to cover over-allotments.

Cravath is representing J.P. Morgan Securities Inc., Credit Suisse Securities (USA) LLC and Citigroup Global Markets Inc. as joint book-runners in this transaction. The lawyers involved include partner William J. Whelan, III and associates Joel Unruch, Aaron M. Golden and J. Clint Lloyd on corporate matters; partner Andrew W. Needham and associate Jonathan J. Katz on tax matters; and associate Matthew Morreale on environmental matters.