what was the sale price of arbor drugs to CVS in 1998?

Hello influence and thank you for your question.

The answer is, the sale price of arbor drugs to CVS on March 31st
1998, was 1.48 billion dollars.

"Acquisitions continued in 1998, with CVS paying $1.48 billion for
Michigan-based Arbor Drugs. The transaction increased CVS?s annual
sales by nearly $1 billion and solidified its position as the
industry?s leader in store count, with nearly 4,100 stores in 24
states and Washington, D.C. The same year, CVS announced plans to add
as many as 200 stores in New York City over the next three years in
the city?s five boroughs, primarily in Manhattan"
http://www.wakefield.org/dailyitem/2001/011031.htm

also:
"CVS Corp. completed its $1.48 billion acquisition of Arbor Drugs
Inc., setting the stage for a showdown with Walgreen Co. for
leadership in the rapidly consolidating drugstore industry"

Thank you for your question.  If you need any clarification of my
answer, do not hesitate to ask.

Very best regards

THX1138

Search strategy included:
"arbor stores OR drugs"  cvs 
://www.google.com/search?q=+%22arbor+stores+OR+drugs%22++cvs+&hl=en&lr=&ie=UTF-8&oe=UTF-8&as_qdr=all&start=20&sa=N

and then:
://www.google.com/search?hl=en&lr=&ie=UTF-8&oe=UTF-8&as_qdr=all&q=+%22arbor+stores+OR+drugs%22++cvs++%22%241.48+billion%22&btnG=Google+Search

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Request for Answer Clarification by influence-ga on 15 Nov 2003 10:32 PST

how much did principal owners recive from the sale?

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Request for Answer Clarification by influence-ga on 15 Nov 2003 11:33 PST

how much of the 1.48 billion was in cash and how much was in stock?

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Clarification of Answer by thx1138-ga on 16 Nov 2003 00:41 PST

Hello again influence.

It would seem that the entire 1.48 billion dollars was a stock swap,
and the principal owner received 400 million dollars worth of CVS
stock and a place on the board of directors:

"Thirty-five years after opening his first Civic Drugs in Dearborn,
Michigan, Applebaum will walk away with $400 million worth of CVS
stock and a seat on its board of directors."
https://fdncenter.org/pnd/archives/19980218/001953.html

"Arbor Drugs chain said yesterday they will join forces in a $1.48
billion stock-swap that would create the nation's largest drugstore
chain."
http://www.th-record.com/1998/02/02-10-98/c.htm

Very best regards

THX1138

great job in both the answer and the clarification.