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Cardinal Health Inc., the largest drug wholesaler in the U.S., plans to help its most recent acquisition, Magellan Laboratories, compete with greater marketing precision, courtesy of Cardinal's $200 million acquisition Wednesday, May 15, of medical education specialist Boron, LePore & Associates Inc.
Cardinal announced a cash-and-share tender offer to BLP shareholders in which Cardinal will offer $16 per BLP share, a 20% premium over Tuesday's closing price. After Cardinal acquires 50.1% of BLP, any remaining shareholders will be paid $16 in cash, and BLP will be integrated into Cardinal.
The acquisition is Cardinal's second in as many months - the company acquired Research Triangle Park, N.C.-based Magellan Laboratories in March for an undisclosed price - and fills a hole in the...