AmeriSource Receives FTC Clearance to Acquire C.D. Smith Healthcare.MALVERN, Pa.--(BUSINESS WIRE)--June 14, 1999-- C. D. Smith Shareholders to Vote July 7 AmeriSource Health Corporation (NYSE NYSE See: New York Stock Exchange : AAS), one of the nation's leading pharmaceutical distributors, announced today that the FTC FTC See Federal Trade Commission (FTC). has granted early termination of the statutory waiting period under the Hart-Scott-Rodino Antitrust Improvements Act The Hart-Scott-Rodino Antitrust Improvements Act of 1976 (Public Law 94-435, known commonly as the HSR Act) is a set of amendments to the antitrust laws of the United States, principally the Clayton Antitrust Act. The HSR Act was signed into law by President Gerald R. relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the acquisition of C. D. Smith Healthcare. The transaction remains subject to C. D. Smith shareholder approval and certain other conditions outlined in the merger agreement. Shareholders of C. D. Smith are scheduled to vote on the proposed merger on July 7, 1999. It is anticipated that the transaction will be finalized in early July 1999. C. D. Smith Healthcare, Inc. with annual operating revenue operating revenue Revenue from any regular source. Revenue from sales is adjusted for discounts and returns when calculating operating revenue. Compare other revenue. of approximately $800.0 million, is the seventh largest wholesale pharmaceutical distributor in the country, and serves independent and chain pharmacies, hospitals, and managed care facilities. The merger, when completed, will dramatically expand AmeriSource's Midwest presence and strengthen its penetration in the Chicago and Boston markets. Under the terms of the agreement, shareholders of C. D. Smith Healthcare will receive a fixed exchange of 2.69 million shares of AmeriSource common stock for all of the outstanding common shares of C. D. Smith. AmeriSource will assume about $89.1 million in long-term debt Long-Term Debt Loans and financial obligations lasting over one year. Notes: For example debts obligations such as bonds and notes which have maturities greater than one year would be considered long-term debt. for a total transaction value of $164.4 million based on AmeriSource's closing stock price of $28.00 on June 11, 1999. AmeriSource Health Corporation is a Fortune 200 company with revenue of $8.7 billion for fiscal 1998. The Company is one of the nation's leading pharmaceutical distributors and serves the healthcare industry from a nationwide network of 22 strategically located distribution centers. News and additional information about AmeriSource are available at www.amerisource.com. |
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