AmerisourceBergen announces special $650M repurchase program AmerisourceBergen announced that its Board of Directors has authorized a special $650M share repurchase program intended to supplement the company’s previously announced warrant hedging strategy. The special program will be used to mitigate the potentially dilutive effect on the ownership interests of its then-existing stockholders that may result from the issuance of common stock upon exercise of the warrants issued in March 2013. The company intends to exclude the impact of the share repurchases under the special program from its presentation of adjusted diluted EPS from continuing operations beginning with its earnings release for the fiscal quarter ending June 30 and until the warrants are exercised or expire. The exclusion of the special share repurchases will be consistent with the company’s exclusion of the accounting dilution resulting from the impact of the warrants in the calculation of the company’s adjusted diluted earnings per share. As a result, share repurchases under the special program will not have an impact on the company’s expectations for the range of its adjusted diluted earnings per share from continuing operations for FY14, which was previously disclosed in its earnings release dated April 24. That range continues to include an assumption that the company will repurchase $500M of its common stock in FY14 under its previously announced repurchase programs, subject to market conditions.
UBS to hold a conference Global Healthcare Conference is being held in New York on May 18-20 with webcasted company presentations to begin on May 18 at 8 am; not all company presentations may be webcasted. Webcast Link