Mergers & Acquisitions: Amerisource to Acquire CVS’s TheraCom, Dish Network Highest Bidder for Hulu
AmerisourceBergen (NYSE:ABC) has agreed to acquire CVS Caremark’s (NYSE:CVS) TheraCom unit for $250 million. AmerisourceBergen hopes to expand the drug wholesaler’s consulting services offerings and pharmacy benefit reimbursement capabilities. TheraCom generates roughly $700 million in annual revenue, and the deal is expected to be accretive to ABC’s 2013 earnings.
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InterDigital (NASDAQ:IDCC) has announced that it’s still exploring strategic options, which may include a sale of the company or select assets. Reports that the company had received buyout offers of only $1 billion to $2 billion, less than its market capitalization, had shares down 15% yesterday.
Dish Network (NASDAQ:DISH) reportedly made the highest offer for Hulu during the first round of bidding for the streaming-video service, at $1.9 billion. However, Google (NASDAQ:GOOG) made an informal offer of $4 billion in exchange for more lucrative content licensing rights. Hulu’s owners — NBCUniversal (NASDAQ:CMCSA), Fox (NASDAQ:NWSA), Disney (NYSE:DIS), and Providence Equity Partners — are now reportedly on the fence about selling the site.
Pemira Funds will acquire Renaissance Learning (NASDAQ:RLRN) for $16.60/share, up from an initial offer of $15/share, which Plato Learning beat with an offer of $15.50/share. Renaissance creates educational software used in more than 72,000 schools in North America.
Cognizant Technology Solutions (NASDAQ:CTSH) has acquired retail consulting and software firm Zaffera for an undisclosed sum.