U.S. pharmacy services provider PharMerica Corp (PMC.N) said on Wednesday it wanted a third party to evaluate regulatory risk in any deal with Omnicare Inc (OCR.N) as a condition of engaging in takeover talks. PharMerica has rejected a $441 million takeover bid by Omnicare, saying the bid undervalued the company and could run into regulatory hurdles. A deal would combine the top two companies in the sector, and PharMerica said antitrust clearance would be difficult to achieve and involve lengthy administrative and court proceedings. PharMerica said it had earlier proposed using a third party to evaluate regulatory risks so it could protect confidential information but was turned down by Omnicare, which decided to go public with its bid.
PharMerica Corporation is an institutional pharmacy services company, which services healthcare facilities and provides management pharmacy services to hospitals. Shares of PMC fell by 0.29% or $-0.04/share to $13.85. In the past year, the shares have traded as low as $7.04 and as high as $14.80. On average, 432931 shares of PMC exchange hands on a given day and today's volume is recorded at 1634938.
Omnicare, Inc. (Omnicare) is a pharmaceutical services company. Shares of OCR fell by 1.44% or $-0.43/share to $29.42. In the past year, the shares have traded as low as $19.14 and as high as $33.01. On average, 1477780 shares of OCR exchange hands on a given day and today's volume is recorded at 2106893.
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