PolyMedica - Medco

PolyMedica Corp (PLMD)
Medco Health Solutions (MHS)
$1.5B Buyout

Summary

Leading pharmacy benefit manager acquires nation's largest provider of blood glucose testing supplies

$53 per PLMD share; $1,5B total
PLMDstock chart

Announced 8.28.07

Closed 10.31.07

Advisors

Financial

PLMD : Deutsche Bank
MHS : Lazard

Legal

PLMD : Weil Gotshal
MHS : Sullivan & Cromwell

Merger Agreement

General

EDGAR filing
Hyperlinked version
Detailed hyperlinked index follows

Article I The Merger

1.1 The Merger
1.2 Closing
1.3 Effective Time
1.4 Effects Of The Merger
1.5 Articles Of Organization And By-laws Of The Surviving
Corporation
1.6 Directors And Officers Of The Surviving Corporation

Article II Effect Of The Merger On The Capital Stock Of The
Constituent Corporations; Exchange Of
Certificates; Company Stock Options

2.1 Effect On Capital Stock
2.2 Exchange Of Certificates
2.3 Appraisal/dissenters Rights
2.4 Company Stock Options And Restricted Shares
2.5 Treatment Of The Warrants
2.6 Adjustments

Article III Company Reps

3.1 Organization, Standing And Corporate Power
3.2 Capitalization
3.3 Authority; Noncontravention; Voting Requirements
3.4 Governmental Approvals
3.5 Company Sec Documents; Undisclosed Liabilities
3.6 Absence Of Certain Changes
3.7 Legal Proceedings
3.8 Compliance With Laws; Permits
3.9 Information Supplied
3.10 Tax Matters
3.11 Employee Benefits And Labor Matters
3.12 Environmental Matters
3.13 Properties
3.14 Intellectual Property
3.15 Material Contracts
3.16 Opinion Of Financial Advisor
3.17 Brokers And Other Advisors
3.18 State Takeover Laws
3.19 Shareholders Rights Agreement
3.20 Transactions With Affiliates
3.21 Change Of Control Agreements
3.22 Regulatory Compliance
3.23 Ethical Business Practices
3.24 Insurance
3.25 No Other Representations Or Warranties

Article IV Parent And Merger Sub Reps

4.1 Organization; Standing
4.2 Authority; Noncontravention
4.3 Governmental Approvals
4.4 Information Supplied
4.5 Ownership And Operations Of Merger Sub
4.6 Capital Resources
4.7 Brokers And Other Advisors

Article V Additional Covenants And Agreements

5.1 Preparation Of The Proxy Statement; Shareholders
Meeting
5.2 Conduct Of Business
5.3 No Solicitation
5.4 Reasonable Best Efforts
5.5 Public Announcements
5.6 Access To Information; Confidentiality
5.7 Notification Of Certain Matters
5.8 Indemnification And Insurance
5.9 Fees And Expenses
5.10 Rule 16b-3
5.11 Employee Matters
5.12 Delisting
5.13 No Rights Plan
5.14 Securities And Instruments

Article VI Conditions Precedent

6.1 Each Party
6.2 Parent And Merger Sub
6.3 Company

Article VII Termination

7.1 Termination
7.2 Effect Of Termination
7.3 Termination Fee

Article VIII Miscellaneous

8.1 No Survival Of Representations And Warranties
8.2 Amendment Or Supplement
8.3 Extension Of Time, Waiver, Etc
8.4 Assignment
8.5 Counterparts
8.6 Entire Agreement; No Third-party Beneficiaries
8.7 Governing Law; Jurisdiction; Waiver Of Jury Trial
8.8 Specific Enforcement
8.9 Notices
8.10 Severability
8.11 Definitions
8.12 Interpretation

Proxy Solicitation

Definitive proxy statement 10.01.07

Table of contents

Preliminary proxy statement 9.12.07

Table of contents

Deal Protection

No shop covenant

Merger agreement 5.3

Proxy statement disclosure

Break-up fee

$52.5mm, plus out-of-pocket expenses
Agreement 7.3

Proxy statement disclosure

Regulatory Approvals

HSR Act

Merger agreement 5.4

Proxy statement disclosure

Fairness Opinion

Deutsche Bank fairness opinion

Proxy statement disclosure

Tax Matters

Disclosure

Proxy statement disclosure

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