AmerisourceBergen recently saw its stock price drop by three percent after talks on a possible takeover by Walgreens dissolved, writes John George for the Philadelphia Business Journal.

When rumors of a takeover initially surfaced, a spokeswoman for Chesterbrook-based AmerisourceBergen said that the company does not comment on market speculation.

AmerisourceBergen and Walgreens have been business partners since 2013 through a 10-year, $400 billion distribution deal. It was later extended to include stock options, which Walgreens has since exercised. It now owns a 26 percent equity stake in AmerisourceBergen.

[uam_ad id=”58459″]

Advertisement

After reports surfaced that Walgreens intended to acquire a majority stake in AmerisourceBergen a week ago, AmerisourceBergen saw its stock rise by 12.5 percent to $100.61 per share. However, on Tuesday after the talks fell apart, the stock closed at $97.64 per share, a drop of three percent.

One of largest publicly traded companies in terms of sales in the Philadelphia region, AmerisourceBergen generated revenues of $153.1 billion in the last fiscal year.

Read more about AmerisourceBergen in the Philadelphia Business Journal here, and check out previous VISTA Today coverage of the company here.

[uam_ad id=”71799″]