In one of the larger retail acquisitions we've seen for a while, CVS is buying Longs Drugs for $2.9 billion, adding over 500 stores to its 6,300-unit portfolio.What intrigues us about the deal is that CVS is pulling the trigger to beef up its store base on the West Coast. What? There is an area of the country where CVS doesn't already have a major presence?We were surprised to see that CVS has no stores in the San Francisco area (unless we're somehow too stupid to figure out the company's website).One thing the deal seems to emphasize is how well some of the major players in this sector of retail are doing in spite of the economy. Do you see this continuing or will the downturn catch up with them as well?
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