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BRIEF-Cardinal Health to acquire patient product portfolio from Medtronic for $6.1 bln
April 18, 2017 / 11:07 AM / 5 months ago

BRIEF-Cardinal Health to acquire patient product portfolio from Medtronic for $6.1 bln

April 18 (Reuters) - Cardinal Health Inc

* Cardinal Health to acquire leading patient product portfolio from Medtronic for $6.1 billion in cash

* Cardinal Health Inc - purchase price does not include cash tax benefits of at least $100 million

* Cardinal Health Inc - acquisition is expected to be financed with a combination of $4.5 billion in new senior unsecured notes and existing cash

* Cardinal Health Inc - purchase price for deal does not include cash tax benefits of at least $100 million

* Says by end of fiscal 2020, company assumes synergies will exceed $150 million annually

* Cardinal Health - expects acquisition to be accretive to non-GAAP earnings per share from continuing operations by more than $0.21 per share in fiscal 2018

* Cardinal Health plans to issue long-term debt to finance transaction

* Cardinal Health Inc - company expects acquisition to be accretive to non-GAAP diluted earnings per share by more than $0.55 per share in fiscal 2019

* Goldman Sachs Bank USA and Goldman Sachs Lending Partners Llc to provide a $4.5 billion unsecured bridge loan

* Cardinal Health - once deal is complete, patient care, deep vein thrombosis & nutritional insufficiency units to become part of Cardinal Health’s medical unit Source text for Eikon: Further company coverage:

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