Wachtell Reps Cardinal Health In $1.3B Kinray Buy

Law360, New York (November 18, 2010, 1:25 PM EST) -- Cardinal Health Inc. plans to pick up Kinray Inc., a privately held, New York-based pharmaceutical distributor, for $1.3 billion in a move to extend its services to retail independent pharmacies in the northeastern U.S.

The Dublin, Ohio-based health care services company said Thursday it would acquire Kinray in an all-cash deal expected to be neutral or slightly positive to its earnings in fiscal 2011 and raise its fiscal 2012 earnings by at least 12 cents per share.

Its estimates depend on the timing of the closing...
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