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NORTHWESTERN DRUG COMPANY ANNOUNCED BOARD APPROVAL OF ACQUISITION BY THE F. DOHMEN COMPANY

 NORTHWESTERN DRUG COMPANY ANNOUNCED BOARD APPROVAL OF ACQUISITION
 BY THE F. DOHMEN COMPANY
 MINNEAPOLIS, July 1 /PRNewswire/ -- Kent F. Olson, president and chief executive officer of Northwestern Drug Co., announced the approval today by its board of directors of an Agreement of Merger by which The F. Dohmen Co., Germantown, Wis., will acquire Northwestern Drug Co. through a merger of a new Dohmen subsidiary into Northwestern Drug, which will continue to be operated by its current management as an independent supplier utilizing its current facilities and employees. The proposal requires approval of the shareholders of Northwestern Drug Co. and is a cash merger at $36.69 per share, and $3.30 per share in escrowed funds to provide certain indemnification to Dohmen if required. Shareholder approval is expected.
 The F. Dohmen Co. and Northwestern Drug are two of the upper Midwest's largest distributors of pharmaceutical and related products. Founded in 1858 by Fredrick Dohmen, a pharmacist, Dohmen is a privately held company that today has pharmacists involved in management and daily operations. It supplies independent pharmacies, chains and hospitals in Wisconsin, Michigan's Upper Peninsula and northern Illinois.
 Northwestern Drug was founded in 1918 and supplies independent pharmacies, chains and hospitals in Minnesota, Iowa, North Dakota, South Dakota and western Wisconsin.
 The proposed acquisition is expected to become effective in August, 1992 after approval by the shareholders of Northwestern Drug of the Agreement of Merger.
 -0- 7/1/92
 /CONTACT: Russell Boogren of Northwestern Drug, 612-739-0099/ CO: Northwestern Drug Company; The F. Dohmen Company ST: Minnesota; Wisconsin IN: MTC SU: TNM


KH -- MN004 -- 5633 07/01/92 11:12 EDT
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Publication:PR Newswire
Date:Jul 1, 1992
Words:269
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