Cardinal’s Syncor acquisition
Executive Summary
Cardinal will issue about 13 mil. shares to Syncor stockholders at a ratio of .47 Cardinal shares for each outstanding share of Syncor stock under amended merger agreement. Cardinal put a hold on the acquisition of the nuclear pharmacy company Nov. 6 after discovering Syncor subsidiaries had made improper payments in foreign countries (1"The Pink Sheet" Nov. 11, In Brief). Syncor reached agreements with the Department of Justice and the Securities & Exchange Commission to pay fines and civil penalties totaling $2.5 mil. The merger still has to be approved by Syncor stockholders...
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