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Monday, August 25, 1997 - Page updated at 12:00 AM

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Business Digest

Cardinal Health, Bergen In $2.8 Billion Merger

Seattle Times Staff: Seattle Times News Services

DUBLIN, Ohio - Health-care service provider Cardinal Health and pharmaceutical-medical supplies distributor Bergen Brunswig said they signed a merger agreement valued at $2.8 billion based on closing stock prices Friday.

Under terms of the deal, which has been structured as a tax-free pooling of interests, Bergen shareholders will get a fixed exchange ratio of 0.775 shares of Cardinal for each Bergen share they own, the companies said.

Cardinal also will issue about 40 million shares and assume about $386 million of long-term debt.

The new company will be headquartered in Dublin, Ohio - Cardinal's base - and be called Cardinal Bergen Health.

Copyright (c) 1997 Seattle Times Company, All Rights Reserved.

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