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Strategies & Market Trends : Speculating in Takeover Targets -- Ignore unavailable to you. Want to Upgrade?

To: richardred who wrote (963)	4/11/2007 2:09:52 AM
From: richardred	Read Replies (1) \| Respond to of 7259

Cardinal Health Closes $3.3B Unit Sale Tuesday April 10, 3:38 pm ET Cardinal Health Closes Sale of Pharmaceuticals Tech Service Segment to Blackstone for $3.3B DUBLIN, Ohio (AP) -- Cardinal Health said Tuesday that it closed the sale of its pharmaceutical technologies and services segment to private equity firm Blackstone Group for $3.3 billion cash. In November, Cardinal Health announced it would sell the segment, with Blackstone announcing its bid in January. In early March, the Federal Trade Commission signed off of the acquisition. The segment employs about 10,000 people and generates about $1.8 billion in revenue per year. Cardinal Health said it will focus its resources on its four remaining health care segments, and use $3.1 billion in after-tax proceeds to buy back shares. Shares of Cardinal Health fell 29 cents to $72.99 in afternoon trading on the New York Stock Exchange. biz.yahoo.com