R. P. Scherer Corporation Shareholders Approve Cardinal Health Merger

R. P. Scherer Corporation, a leading manufacturer of drug delivery systems, has cleared a major hurdle in its planned merger with Cardinal Health, Inc. After receiving shareholder approval, the two companies are now awaiting regulatory clearance to complete the transaction. The merger, which was announced last May, will see stockholders of Scherer receive 0.95 Cardinal Health common shares for each share of Scherer common stock. The combined entity will become one of the leading healthcare service companies in the world, with a global presence and a diverse range of services.

Key Takeaways:

• The merger between R. P. Scherer Corporation and Cardinal Health, Inc. has received overwhelming shareholder approval, with both companies' boards recommending the deal.
• The combined entity will operate a global network of 19 facilities in 12 countries, with a diverse range of services including pharmaceutical distribution, hospital pharmacy management, and clinical information systems development.
• R. P. Scherer Corporation will retain its status as the world's largest producer of soft gelatin capsules, with a focus on developing and commercializing advanced drug delivery systems.
• The merger is subject to regulatory clearance, with the companies expecting to complete the transaction shortly following receipt of final approvals.
• Aleksandar Erdeljan, Chairman of R. P. Scherer Corporation, expressed enthusiasm for the strategic opportunities presented by the merger, citing a positive relationship between the two companies since the merger was announced last May.

Statistics:

• 0.95 Cardinal Health common shares will be issued to each share of Scherer common stock as part of the merger.
• The combined entity will operate 19 facilities in 12 countries.
• R. P. Scherer Corporation is the world's largest producer of soft gelatin capsules ("softgels").
• Cardinal Health, Inc. is a Fortune 200 company based in Dublin, Ohio.

Sources:

• Business Wire HealthWire publication, August 6, 1998.
• R. P. Scherer Corporation press release.