Cardinal Health agrees to buy Allegiance
Article Abstract:
Cardinal Health Inc., a drug wholesaler, plans to purchase Allegiance Corp., a hospital supplies company, for stock valued at about $4.11 billion. Cardinal will transform itself into the nation's largest integrated distributor of pharmaceuticals and medical/surgical products and services through this acquisition, one in which Allegiance holders will receive 0.415 Cardinal shares for each of their existing shares. Cardinal stated that it believes that the transaction will result in neutral per-share earnings for the first twelve months but that it will add to earnings in the subsequent year. Article includes a table giving corporate statistics for both Cardinal and Allegiance.
Comment:
Cardinal Health plans to purchase Allegiance for stock valued at about $4.11 billion
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Wesco shed stake in Travelers Group, filing suggests
Article Abstract:
Wesco Financial Corp. has sold off its share of Travelers Group Inc. This development is suggested in a filing with the Securities and Exchange Commission. Wesco is 80.1% owned by Berkshire Hathaway Inc. The company divested over $100 million worth of shares in Travelers. Wesco is an insurance and investing company. The divestiture does not clear up the issue of the status of Berkshire's remaining shares in Travelers.
Comment:
Wesco Financial Corp. sells off its share of Travelers Group Inc.
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Ameritech to buy 42% of Danish phone carrier. Ameritech to sell stake in overseas carrier. Ameritech to cut costs by $3 billion over five years
- Abstracts: Radio concern Chancellor Media agrees to buy Martin Media for $610 million. Hearst-Argyle to buy broadcast unit from Pulitzer for $1.15 billion in stock
- Abstracts: Scotts agrees to buy part of Monsanto unit in a $300 million deal. American Home, Monsanto to combine in a stock swap valued at $35.08 billion
- Abstracts: Intel delays the delivery of key chip. Motorola, IBM to end alliance on design of power PC chip line
- Abstracts: Owens Corning agrees to asbestos pact; settlement for $1.2 billion with plaintiffs' lawyers may resolve all suits