Market Overview

MWI Veterinary Supply Surges 8% Following News Of Acquisition By AmerisourceBergen


Shares of MWI Veterinary Supply, Inc. (NASDAQ: MWIV) surged over 8 percent in Monday’s premarket following news that AmerisourceBergen Corp. (NYSE: ABC) will acquire the company.

Under the terms and conditions of the merger agreement, AmerisourceBergen, through a new wholly-owned subsidiary, will make an all cash tender offer for all of the outstanding shares of MWI at a price of $190.00 per share, representing a $2.5 billion fully diluted equity value.

The acquisition of MWI is expected to contribute approximately $0.08 in adjusted earnings per share to AmerisourceBergen’s fiscal year 2015, and is expected to generate approximately $50 million in synergies by the end of the third full year, driven primarily by the benefits of AmerisourceBergen’s scale and product sourcing opportunities.

“MWI is the premier supply chain company in animal health, with leading positions in both the companion and production markets, and we are very excited to have them join AmerisourceBergen,” said Steven H. Collis, AmerisourceBergen President and Chief Executive Officer.

MWI Veterinary Supply recently traded at $190.00, up 8.17 percent.

AmerisourceBergen traded at $94.15, up 1.24 percent.

Posted-In: M&A News


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