Drugstore chain CVS Health Corp. CVS, +0.35% announced on Monday an agreement to buy discount retailer Target Corp.'s TGT, +1.23% pharmacy and clinic businesses for $1.9 billion. As part of the agreement, CVS will operate more than 1,660 pharmacies through a store-within-a-store format, and the nearly 80 clinics will be rebranded as MinuteClinic. The companies plan to develop up to 10 small, flexible format stores branded as TargetExpress that include a CVS pharmacy. CVS said if the deal closes near the end of the year, it will reduce 2016 adjusted earnings per share by 6 cents, then add 10 cents in 2017 and 12 cents in 2018 and beyond. As a result of the deal, CVS will reduce share repurchases in 2015 to $5 billion from $6 billion, which in turn will lower adjusted 2015 EPS by a penny and 2016 EPS by about 4 cents. CVS's stock climbed 1.2% in premarket trade, and has gained 6.1% year to date through Friday, while the S&P 500 has added 1.7%. Target's stock was still inactive ahead of the open. marketwatch