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.
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