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

Acquisitions & mergers, Drugs and Druggists' Sundries Wholesalers, Drugs Wholesale, Medical Supplies Whsle, Medical, Dental, and Hospital Equipment and Supplies Wholesalers, Medical supplies wholesalers, Cardinal Health Inc., Drug wholesalers, Allegiance Corp.

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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.

Insurance, Insurance Carriers and Related Activities, Travelers Inc., Wesco Financial Corp.

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