Patterson Companies To Acquire Animal Health International - Quick Facts

(RTTNews) - Patterson Companies, Inc. (PDCO) announced a definitive agreement to acquire Animal Health International, a leading production animal health distribution company in the United States, for approximately $1.1 billion in cash. The company said the acquisition will more than double the size of its veterinary business.

Patterson also announced the potential sale of its medical rehabilitation business. The company intends to apply the proceeds from the potential sale to reduce the Animal Health International acquisition debt.

Patterson expects the acquisition of Animal Health International and the realization of planned synergies, coupled with the potential divestiture of the medical business, to be neutral to fiscal year 2016 adjusted earnings per share, excluding one-time transaction costs and amortization. The company anticipates the two transactions will lead to higher adjusted earnings per share beginning in fiscal year 2017.