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Monday, January 12, 2015

AmerisourceBergen enters animal health market with $2.5 billion deal, (NASDAQ: MWIV)

Medicines distributor AmerisourceBergen Corp will purchase MWI Veterinary Supply Inc for about $2.5 billion to enter the fast-growing animal health products distribution business as pet ownership rises in the United States.MWI shares rose 8 percent to $189.90, just shy of the offer price of $190 per share, while AmerisourceBergen shares were down about 1.4 percent at $91.68.The $22-billion industry for animal medicines and vaccines is expected to grow 5.7 percent per year from 2011 to 2016, according to a report by Technology Acceleration Partners, a private capital development firm targeting animal health, food and agriculture ventures.MWI's distributes products for livestock and companion animals such as dogs, cats and horses across the United States and United Kingdom. It had 2014 revenue of $2.98 billion.

MWI Veterinary Supply, Inc. (MWI) is a distributor animal health product to veterinarians across the United States and United Kingdom. Shares of MWIV traded higher by 8.17% or $14.35/share to $190.00. In the past year, the shares have traded as low as $129.75 and as high as $188.40. On average, 98584 shares of MWIV exchange hands on a given day and today's volume is recorded at 855408.