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PharMerica details millions in golden parachute money for executives

Chris Larson
American City Business Journals

PharMerica Corp. executives could receive millions from the company if they are terminated after the completion of its planned $1.4 billion acquisition. The so-called "golden parachute compensation" for the company's named executives could total about $27.7 million, according to a filing with the U.S. Securities and Exchange Commission. PharMerica has agreed to be acquired by a new company, Phoenix Parent Holdings Inc., which is controlled by New York-based KKR & Co. L.P., with Deerfield, Ill.-based Walgreens Boots Alliance Inc. (WBA) as a minority investor.