I.E. Longs Drugs stores to become CVS Pharmacy branches

     Almost 30 Longs Drugs stores do business in the Inland Empire, but starting next year, new signs will be posted above those locations.
     CVS Caremark Corp. (NYSE: CVS), parent of CVS Pharmacy, announced Tuesday evening that it is acquiring Longs Drug Stores Inc. (NYSE: LDG) for $2.7 billion.
     Longs, a 70-year-old pharmacy chain based in Walnut Creek, was founded by brothers Joe and Tom Long.
     The merger will have a "minimal" impact on Longs locations, but store closures aren't being fully ruled out, according to CVS spokesman Mike DeAngelis.
     "We haven't made any final decisions regarding that," he said.
     CVS will start converting and remolding Longs stores in early 2009.
     --matthew.wrye@inlandnewspapers.com