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Moore Medical bid yields more

This article was originally published in The Gray Sheet

Executive Summary

SJ Strategic Investments signs confidentiality pact with the "internet-enabled" medical product distributor to enable due diligence proceedings in connection with a $15-per-share bid Jan 21. The deal is worth about $48 mil., based on Moore's roughly 3.2 mil. shares outstanding. The offer represents 25% more than McKesson's definitive, $12-per-share purchase deal Jan. 19. The bids have since driven Moore's stock up 25% to the $14-range. Moore maintains both offers are still under review...
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