AmerisourceBergen Buys Trent

AmerisourceBergen ( ABC) acquired Trent Drugs (Wholesale) of Kingston, Ontario, for $40 million, plus an added $43 million in debt assumption.

AmerisourceBergen, of Valley Forge, Pa., expects the deal to add a penny or two to 2006 earnings.

"Trent's national coverage and its management team provide a solid foundation for expanding our pharmaceutical distribution capability into the Canadian marketplace," said Amerisource chief R. David Yost. "Trent is a logical expansion of our pharmaceutical distribution business and continues AmerisourceBergen's strategic focus on the pharmaceutical supply channel."

Amerisource said Trent generated about $500 million in revenue over the last 12 months. AmerisourceBergen financed the acquisition with borrowings under a new credit facility related to the company's new Canadian operations.

On Wednesday, Amerisource shares slid $1.77 to $76.10.

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