NEW YORK--US pharmaceutical distributor AmerisourceBergen announced Monday that it plans to acquire animal-health company MWI Veterinary Supply for $2.5 billion.
AmerisourceBergen said the deal would enable it to expand its services into animal health. MWI sells pet food, animal medications, vaccinations and other goods.
"Animal health is a growing market in the US and internationally, and is a logical extension of our pharmaceutical distribution and services businesses," said AmericsourceBergen chief execute Steven Collis.
"Utilizing AmerisourceBergen's knowledge of manufacturer and provider services, our global reach and partnership philosophy, combined with MWI's expertise in veterinary and agricultural markets, we will collaboratively launch the next generation of superior animal health products and services together."
MWI had sales of $3 billion last year, while AmerisourceBergen had sales just under $120 billion and about 14,000 employees.
AmerisourceBergen said it would purchase MWI for $190 per share, about a 17.4 percent premium to its price before the deal.
In late-morning trade, shares of AmerisourceBergen dipped 0.1 percent to $92.94, while MWI jumped 8.1 percent to $189.93.
AFP
