Latest Article: Omnicare Comments on FTC Position
Omnicare, Inc. (NYSE:OCR) today issued the following statement responding to the Federal Trade Commission’s (FTC) split (3 to 1) decision to issue an administrative complaint to block Omnicare’s offer to purchase all outstanding shares of PharMerica Corporation (NYSE: PMC) common stock for $15.00 per share in cash. “We strongly disagree with the FTC's decision to seek to block the proposed transaction. We also disagree with the FTC‘s claim for the need to protect insurance companies as a result of this combination. The FTC has already examined the institutional pharmacy industry, noting the numerous players and explaining how the ease of entry and other market conditions facilitate competition. The institutional pharmacy business is competitive and Omnicare is confident it would remain so after the transaction. “Omnicare continues to believe that a transaction with PharMerica will...
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