WASHINGTON (dpa-AFX) - Cencora, Inc. (COR) Covetrus, a global animal health technology and services company, Wednesday announced an agreement to merge the latter with MWI Animal Health, creating a combined company offering a comprehensive animal health platform.
The combined company will deliver timely and cost-effective solutions, ensuring veterinary practices and animal health professionals have access to a broader range of products and solutions for both companion and large animals.
Upon closing of the deal, Cencora will receive upfront cash proceeds of $1.25 billion, $800 million in preferred equity and $1.45 billion paid in common equity in the combined company, resulting in a non-controlling 34.3% common equity stake.
Cencora's stock is moving up 0.24 percent, to $360.80 before the bell on the New York Stock Exchange.
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