Longs Drugs Stores Corp. issued a statement Tuesday, Sept. 23, rejecting a letter from Walgreen Co., which had “threatened a hostile takeover bid of the pharmacy chain.” Longs agreed to a merger with CVS Caremark Corp. this past August for $71.50 a share, and representatives insist they will stick to it, regardless of Walgreen’s advances. Walgreen’s made an unsolicited offer to Longs on Sept. 12, for a buyout at $75 per share that was refused, and have also proclaimed they will “go directly to Longs shareholders to pursue a merger,” if necessary. Longs and CVS are likely to close the deal, as regulatory approval has already been met.