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* Genesis Health Ventures Inc. said it will buy Vitalink Pharmacy Services Inc. for $690 million in cash, preferred stock and debt, giving it a larger, more economical source of drugs for its nursing-home business.
* Sovereign Bancorp Inc. said it will pay $185 million for 95 bank branches formerly owned by CoreStates Financial Corp., clearing the way for First Union Corp. to complete its $16.6-billion acquisition of CoreStates.
* PepsiCo Inc. asked French government officials to block Coca-Cola Co.’s pending $839-million purchase of carbonated beverage Orangina from Pernod Ricard, saying it would create a virtual monopoly in the orange soda segment in France.
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