On Monday September 27, 2010, 9:04 am EDT
LOUISVILLE, Ky. (AP) -- PharMerica Corp. will buy Chem Rx for $70.6 million, the pharmacy management services company said Monday.
The company said the acquisition is subject to the approval of a bankruptcy court. PharMerica plans to fund the buyout with a mix of cash and borrowings.
Chem Rx Corp., a long-term care pharmacy, filed for Chapter 11 bankruptcy protection in the Delaware District of United States Bankruptcy Court on May 11.
Latest Shares Outstanding 13.8 mil that we could find as of printing.
$70,600,000 buy out on 13,800,000 shares comes to $5.11 per share.
http://www.advfn.com/p.php?pid=financials&symbol=NO%5ECHRXQ
Chem Rx Corporation signs "Stalking Horse' Agreement
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