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AmerisourceBergen expands animal health reach with MWI Veterinary Supply acquisition


VALLEY FORGE, Pa. — AmerisourceBergen on Monday acquired MWI Veterinary Supply, the leading animal health distribution company in the United States, for $2.5 billion.


“MWI is the premier supply chain company in animal health, with leading positions in both the companion and production markets, and we are very excited to have them join AmerisourceBergen,” stated Steven Collis, AmerisourceBergen president and CEO. “Animal health is a growing market in the U.S. and internationally, and is a logical extension of our pharmaceutical distribution and services businesses. Utilizing AmerisourceBergen’s knowledge of manufacturer and provider services, our global reach and partnership philosophy, combined with MWI’s expertise in veterinary and agricultural markets, we will collaboratively launch the next generation of superior animal health products and services together.”


Under the terms of the merger agreement, AmerisourceBergen will commence a tender offer no later than Jan. 26, 2015 to acquire all outstanding shares of MWI common stock. MWI will file a recommendation statement containing the unanimous recommendation of the MWI board of directors that MWI’s stockholders tender their shares to AmerisourceBergen. AmerisourceBergen intends to acquire any shares of MWI not tendered into the tender offer via a merger that will be effected as soon as possible after the closing of the tender offer.


BofA Merrill Lynch acted as financial advisor and Cravath, Swaine & Moore provided legal advice to AmerisourceBergen. J.P. Morgan acted as financial advisor and Dechert provided legal advice to MWI.


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