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Fossil to replace Medco Health in S & P 500

Fossil Inc. will replace Medco Health Solutions Inc., which is being acquired by Express Scripts Inc., in the benchmark S&P 500 index, S&P Indices said.Richardson, Texas-based Fossil designs, develops, markets, and distributes consumer fashion accessories such as watches, wallets and handbags....

Fossil Inc. will replace Medco Health Solutions Inc., which is being acquired by Express Scripts Inc., in the benchmark S&P 500 index, S&P Indices said.

Richardson, Texas-based Fossil designs, develops, markets, and distributes consumer fashion accessories such as watches, wallets and handbags. It also will be added to the S&P 500 Apparel Accessories & Luxury Goods sub-industry index.

St. Louis-based Express Scripts originally announced plans to buy Franklin Lakes, N.J.-based Medco last July. On Wednesday, the companies said that the $29.1 billion deal could close as early as next week. Shareholders from both companies have already approved the acquisition, but regulators are still reviewing it.

In addition, S&P Indices said late Wednesday that BioMed Realty Trust Inc. will replace Fossil in the S&P MidCap 400 index, and Innophos Holdings Inc. will replace BioMed in the S&P SmallCap 600 index.

San Diego-based BioMed is a real estate investment trust that serves the life science industry, while Cranbury, N.J.-based Innophos produces mineral-based specialty ingredients.

The changes will take place after the close of trading on a date to be announced, S&P Indices said.

In midday trading, Fossil shares fell $1.20 to $131.45, while Medco shares rose 2 cents to $71.22. BioMed shares rose 1 cent to $18.80 and Innophos rose $1.66, or 3.5 percent, to $49.66.

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