Business notebook

Go for it: Caremark Rx Inc. shareholders should vote for CVS Corp.'s offer to buy the company for $26 billion, rejecting a rival bid from Express Scripts Inc., Institutional Shareholder Services Inc. said.

Shares for sale: Abiomed Inc., a Danvers maker of medical devices, said it plans to offer 5 million shares in an underwritten public offering.

3 more years: Millennium Pharmaceuticals Inc. won an extension of its US patent covering the multiple myeloma drug Velcade for injection. The Patent and Trademark Office extended the coverage to May 3, 2017, from 2014, Cambridge-based Millennium said.

New trigger: Stride Rite Corp., of Lexington, said its board has adopted a new shareholder rights plan to replace its existing plan. The new plan raises the stock ownership triggering threshold to 15 percent from 10 percent and requires independent directors to consider at least once every three years whether the rights plan is in the best interests of shareholders.

Film and fashion: Weinstein Co., the film company started by Harvey (above with actress Georgina Chapman) and Bob Weinstein, and Hilco Consumer Capital agreed to buy fashion house Halston Co. and plan to bring in new management to run the business.

Web based: An analyst raised his price target and estimates for Pawtucket, R.I., toy maker Hasbro Inc., predicting sales of movie-related toys will benefit from the upcoming films "Spiderman 3" and "The Transformers." A Wedbush Morgan Securities analyst raised his price target to $32 from $29. He also lifted his earnings-per-share estimates to $1.75 from $1.50 for both 2007 and 2008.

Delay: Presstek Inc., a Hudson, N.H., digital imaging systems maker, said it would delay filing its annual financial report for 2006 because of a disagreement with accounting regulators about how to record new product costs.

Freebies: Universal Pictures has come up with an unusual plan to try to fill theaters when its film "Peaceful Warrior" opens this month: The company is giving away $15 million worth of tickets in a partnership with electronics chain Best Buy.

Pay cut: CBS Corp. chairman Sumner Redstone, bowing to shareholder complaints that company directors and top executives were overpaid, cut his base salary to $1 million from $1.75 million and his cash bonus to $3.5 million from $6.1 million. Deferred compensation of $1.3 million that he was due to receive this year was eliminated.

(Globe wire services)