Boise-based MWI Veterinary Supply, founded in 1976 by veterinarian Millard Wallace Ickes who grew the company into one of Idaho's larger employers, is being sold for a stunning $2.5 billion.
The Associated Press is reporting that pharmaceutical distributor AmerisourceBergen announced this morning that it will pay $190 for each share of MWI stock, an approximately 8 percent premium. The deal includes AmerisourceBergen assuming $76 million of MWI's debt.
Shares of MWI immediately jumped this morning on the NASDAQ exchange, increasing nearly 8 percent by mid-morning to approximately $190 per share.
MWI distributes animal heath products to veterinarians across the U.S. and into the United Kingdom. The company's products include vaccines, diagnostic equipment, pet food and nutritional products.
“Animal health is a growing market in the U.S. and internationally, and is a logical extension of our pharmaceutical distribution and services businesses,” said AmerisourceBergen Chief Executive Steven Collis in the acquisition statement.