AmerisourceBergen Corporation (ABC) jumped 9% on 02/13/18: This is why
AmerisourceBergen Corporation (ABC) jumped based on the bullish news related to early talks to be acquired by Walgreens Boots Alliance. Walgreens is valued at $67.82 billion and AmerisourceBergen has a market capitalization of $19.65 billion, according to Thomson Reuters data.
Healthcare payers and pharmacies are responding to a shifting landscape, including changes in the U.S. Affordable Care Act, rising drug prices and the threat of competition from online retailers such as Amazon.com Inc.
Representatives of Walgreens’ Chief Executive Stefano Pessina made “a high-level outreach” to representatives of AmerisourceBergen CEO Steven Collis several weeks ago, the WSJ said, citing people familiar with the matter.
The two companies are already closely allied, having struck a 10-year deal in 2013 for AmerisourceBergen to buy drugs for Walgreens, which subsequently acquired 26 percent of the distributor. Walgreens would buy the remaining shares under the deal being considered, the Journal reported. An offer has not been made, and there may be no deal, it added.
Why are we Bullish on the new: AmerisourceBergen has a market value of about $19.6 billion which will reflect a massive buyout. The stock has been impacted by the bullish news and jumped by 9%. We provide a Bullish short-term news
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