Cencora to buy American Oncology Network in $2.4 billion deal; shares fall

McKesson

Yesterday 14:20

** Shares of Cencora COR.N fall nearly 2% to $338.27 premarket
** Drug distributor to buy cancer care provider American Oncology Network AONC.PK
** Deal valued at up to $2.4 bln, with $2.3 bln payable at closing and contingent value rights worth up to $100 mln
** Co, which owns about 4% of AONC, will buy the rest of the equity
** Expects deal to add to adj EPS in the second year after closing
** COR now sees FY26 adj EPS of at least $17.90, near the high end of its prior $17.75-$17.95 range
** Deal follows co's 2025 purchase of majority control of OneOncology for $5 bln
** Rivals McKesson MCK.N and Cardinal Health CAH.N have also bought oncology networks in recent years
** As of last close, stock has risen 1.6% YTD

(Reporting by Miraanta Lowrance in Bengaluru)
((miraanta.lowrance@thomsonreuters.com))