AmerisourceBergen Corp. officially entered the veterinary distribution channel Tuesday with the takeover of MWI Veterinary Supply Inc.
The transaction was completed just six weeks after the companies announced AmerisourceBergen’s intention to purchase all outstanding shares of MWI common stock for $190 each. The total price was estimated at $2.5 billion.
Numerous law firms launched investigations into whether MWI investors were shortchanged. At least one of them, the Delaware firm Andrews and Springer, declined to take action.
“We have not filed a case against MWI and are not going to,” attorney Craig J. Springer said.
The San Diego-based Shareholders Foundation reported Feb. 10 that it sued on behalf of an investor. A spokesman could not be reached to comment on the status of the lawsuit.
MWI went from a standalone company based in Boise, Idaho, to a wholly owned subsidiary of one of the world’s largest distributors of human drugs. MWI’s management team, led by President and CEO Jim Cleary, remained in place.
AmerisourceBergen President and CEO Steven H. Collis hailed the MWI executives.
“With our combined knowledge of manufacturer and provider services, our global reach and partnership philosophy, we will bring the next generation of superior customer service and innovation to the fast-growing animal health industry,” Collis said.
His company, headquartered in Valley Forge, Pa., does more than $120 billion in annual sales worldwide and employs 16,000 people.
MWI, which distributes across the United States and the United Kingdom, projects fiscal 2015 revenue of $3.2 billion.