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AmerisourceBergen Corporation Message Board

  • runnindude2 runnindude2 Nov 26, 1997 5:37 PM Flag

    merger

    Does anyone have any new news on the proposed merger with McKesson Corp?

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    • See BBC message board for gossip on BBC/CAH merger, FTC approval.

      BBC to be acquired at .775 CAH. BBC is 40, CAH is 70, creating merger price of 54. $14/sh says to me that FTC approval is unlikely.

      Similar with MCK/AAS, although AAS may be small enough to not create antitrust problems, but with MCK at 52, AAS at 58, (merger price somewhere between 71 and 73) market is discounting $13/sh for FTC approval.

      I looked into this as opportunity, but passed becaused it seems that 1) CAH/BBC will not go thru, and 2) would be hard for FTC to approve MCK/AAS when CAH/BBC denied.

      Don't get me wrong; I hope it's approved since you're long the stock, and I'll cheer for anyone except for BBC (similar horror stories as MCK's previously posted). Good luck to you ! I'll be watching deal too, but from sidelines...

      John

    • I know nothing about the mergers of CAH and BBC - haven't had time to look up either one. I just sent in my approval of AAS's
      merger with both AAS and MCK shareholders' meetings Feb. 9th.
      Also bought more AAS. If approved, I had assumed each share of AAS would be worth .71 x 99.81, or 70.87, (as of Sept.22) of MCK's stock. But now I assume it may be 1.42 x the closing price of MCK on Feb. 7th (Friday). Am I right or wrong? I think I'm wrong, but hope not as MCK is now higher (split x 2) and could be even higher by Feb. 7th.

    • I should expect we would be hearing very soon about these mergers, at least about the proposed merger between CAH and BBC because that merger was announced one month before AAS and MCK and I think if FTC rules in favor of that one the other will surely follow.

    • I read a story I think it was Wall Street Journal a couple of months ago saying it would be early Spring 98 for the merger.
      I bought Amerisource shortly after it came on the market a few
      years back. I was pleased that it acquired Walker Drug Co out of
      Birmingham, Al awhile back. I was hoping that Amerisource would
      have at least had a stock split prior to being acquired by Mckesson. I own 200 shares of amerisource. Ameriource must be
      careful because McKesson destroyed Foxmyer (AAV) Stole away key
      excutives; McKesson pretended to want to buy Foxmyer looked at
      their books and helped it self their mgt personnel & etc.

      • 1 Reply to tharp98
      • Your message is very interesting. MCK has been going up and
        down like a yo-yo, AAS likewise, but never anywhere near its proposed value
        of .71 x 99.81 = 70.86 (today's closing AAS 53 15/16, and MCK
        already below at 98 3/4). I don't understand the variance unless
        like you say, WATCH OUT, it may never go thru. Any other response
        from anyone? If any reliance that it will go thru, AAS is an
        excellent buy - unless there is no compensation should MCK fall
        way below the 99.81. They are also scheduled for a 2:1 stock
        split 1/2/98.

 
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