VALLEY FORGE, Pa.--(BUSINESS WIRE)--March 31,
2005--AmerisourceBergen Corporation (NYSE:ABC) today announced it
entered into an agreement effective March 30, 2005 to repurchase
5,264,400 shares of its common stock in an accelerated share
repurchase transaction with Bank of America, N.A. at a price per share
of $55.80. The accelerated repurchase transaction will complete the
Company's previously authorized 5.7 million share repurchase program.
The Company expects to settle the repurchase transaction today,
and to fund the settlement with cash. The shares repurchased by the
Company from Banc of America will be held as treasury stock.
Under the terms of the agreement, Bank of America or its
affiliates will subsequently purchase an equivalent amount of shares
of the Company's common stock in the open market, which are expected
to be completed by the end of April 2005.
The shares repurchased by the Company are subject to a contingent
purchase price adjustment based on the volume weighted average price
of the equivalent number of shares purchased by Bank of America or its
affiliates during the subsequent purchase period.
About AmerisourceBergen
AmerisourceBergen(R) (NYSE:ABC) is one of the largest
pharmaceutical services companies in the United States. Servicing both
pharmaceutical manufacturers and healthcare providers in the
pharmaceutical supply channel, the Company provides drug distribution
and related services designed to reduce costs and improve patient
outcomes. AmerisourceBergen's service solutions range from pharmacy
automation, bedside medication safety systems, and pharmaceutical
packaging to pharmacy services for skilled nursing and assisted living
facilities, reimbursement and pharmaceutical consulting services, and
physician education. With more than $48 billion in operating revenue,
AmerisourceBergen is headquartered in Valley Forge, PA, and employs
more than 14,000 people. AmerisourceBergen is ranked #22 on the
Fortune 500 list. For more information, go to
www.amerisourcebergen.com.
FORWARD-LOOKING STATEMENTS
This news release may contain certain "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. These statements
are based on management's current expectations and are subject to
uncertainty and changes in circumstances. Actual results may vary
materially from the expectations contained in the forward-looking
statements. Forward-looking statements may include statements
addressing AmerisourceBergen's future financial and operating results.
The following factors, among others, could cause actual results to
differ materially from those described in any forward-looking
statements: competitive pressures; the loss of one or more key
customer relationships; customer insolvencies; changes in customer
mix; changes in pharmaceutical manufacturers' pricing and distribution
policies or practices; regulatory changes; changes in U.S. government
policies (including changes in government policies pertaining to drug
reimbursement); changes in market interest rates; and other economic,
business, competitive, regulatory and/or operational factors affecting
the business of AmerisourceBergen generally.
More detailed information about these and other factors is set
forth in AmerisourceBergen's filings with the Securities and Exchange
Commission, including its Annual Report on Form 10-K for fiscal 2004.
AmerisourceBergen is under no obligation to (and expressly
disclaims any such obligation to) update or alter any forward looking
statements whether as a result of new information, future events or
otherwise.
CONTACT: AmerisourceBergen Corporation, Valley Forge
Michael N. Kilpatric, 610-727-7118
mkilpatric@amerisourcebergen.com
SOURCE: AmerisourceBergen Corporation