Navigate this market better. Subscribe for FREE stock alerts and information.

Monday, January 12, 2015

REFILE-AmerisourceBergen to purchase MWI Veterinary for about $2.5 bln, (NASDAQ: MWIV)

Pharmaceutical products distributor AmerisourceBergen Corp said it will purchase MWI Veterinary Supply Inc for about $2.5 billion to enter the market for animal health products distribution.MWI Veterinary shares rose 8.11 percent in premarket trading to $189.90, just shy of the offer price of $190 per share. AmerisourceBergen shares were up 2 percent at $95.AmerisourceBergen said the deal, approved by the board of both companies, is expected to add about 8 cents to adjusted earnings in fiscal 2015."Animal health is a growing market in the U.S. and internationally, and is a logical extension of our pharmaceutical distribution and services businesses," Chief Executive Steven Collis said in a statement.

MWI Veterinary Supply, Inc. (MWI) is a distributor animal health product to veterinarians across the United States and United Kingdom. Shares of MWIV fell by 0.79% or $-1.4/share to $175.65. 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 78861.