October 25, 2011 / 1:13 PM / 6 years ago

Cardinal Health's unit to acquire Canada's Futuremed

(Reuters) - Drug wholesaler Cardinal Health Inc’s (CAH.N) Canadian unit agreed to acquire Futuremed Healthcare Products Corp FMD.TO for about C$165 million in cash.

The deal, which values Futuremed at C$8.15 a share, represents a premium of 31.5 percent to the stock’s Monday’s close of C$6.20.

Futuremed recommended shareholders to tender their stocks to Cardinal Health Canada’s offer, while senior officers and directors of the company with a stake of 5 percent, have already agreed to do so.

Futuremed distributes nursing home supplies and specialized furniture and equipment to the growing long-term care facilities sector.

Reporting by Aftab Ahmed in Bangalore; Editing by Joyjeet Das

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below