Key Developments: Owens & Minor Inc (OMI.N)

OMI.N on New York Stock Exchange

32.32USD
20 Oct 2014
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Latest Key Developments (Source: Significant Developments)

Owens & Minor Inc completes acquisition of Medical Action Industries
Wednesday, 1 Oct 2014 09:25am EDT 

Owens & Minor Inc:Says that effective Oct. 1, 2014, it has completed the previously announced acquisition of Medical Action Industries Inc.Says owens & Minor acquired all outstanding shares of Medical Action for $13.80 per share in cash, or about $207 million, including assumed debt, net of cash.  Full Article

Owens & Minor Inc announces closing of new offering of $550 million of senior notes
Tuesday, 16 Sep 2014 04:53pm EDT 

Owens & Minor Inc:Completes its previously announced public offering of $275 mln of 3.875 pct Senior Notes due 2021 and $275 mln of 4.375 pct Senior Notes due 2024.The new notes are guaranteed on senior unsecured basis by Owens & Minor Distribution, Inc. and Owens & Minor Medical, Inc., both wholly-owned subsidiaries of company.Owens & Minor intends to use proceeds from offering to fund its previously announced acquisition of Medical Action Industries Inc., to fund redemption of all of its outstanding 6.35 pct Senior Notes due 2016 (2016 Notes) and for other general corporate purposes.  Full Article

Owens & Minor Inc announces pricing of new offering of $550 million of senior notes
Thursday, 11 Sep 2014 06:28pm EDT 

Owens & Minor Inc:Prices underwritten public offering of $275 mln of 3.875 pct Senior Notes due 2021 and $275 mln of 4.375 pct Senior Notes due 2024.Estimated net proceeds from this offering will be about $542.7 mln, after deducting the underwriting discount and estimated offering expenses.The offering is expected to settle on Sept. 16.The new notes are general senior unsecured obligations of Owens & Minor, will pay interest semi-annually and will be guaranteed on a senior unsecured basis by Owens & Minor Distribution, Inc. and Owens & Minor Medical, Inc., both wholly-owned subsidiaries of the company.Owens & Minor intends to use proceeds from the offering to fund acquisition of Medical Action Industries Inc., to fund the redemption of all of outstanding 6.35 pct Senior Notes due 2016 and for other general corporate purposes.The joint book-running managers for the offering are J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Wells Fargo Securities, LLC.The senior co-managers for the offering are SunTrust Robinson Humphrey, Inc. and U.S. Bancorp Investments, Inc.The co-managers for the offering are BB&T Capital Markets, a division of BB&T Securities, LLC, Citigroup Global Markets Inc. and PNC Capital Markets LLC.  Full Article

Owens & Minor Inc announces third quarter 2014 cash dividend
Monday, 28 Jul 2014 05:45pm EDT 

Owens & Minor Inc:Approves payment of third quarter 2014 cash dividend in amount of $0.25 per share.Payable on Sept. 30, 2014, to shareholders of record as of Sept. 15, 2014.  Full Article

Owens & Minor Inc implements management succession plan
Monday, 28 Jul 2014 05:12pm EDT 

Owens & Minor Inc:Names President & Chief Operating Officer James L. Bierman, 61, to serve as President & Chief Executive Officer and appointed him as director of company, effective Sept. 01, 2014.Craig R. Smith, 63, currently Chairman & Chief Executive Officer, will continue to serve company in role of Executive Chairman effective Sept. 01, 2014.  Full Article

Owens & Minor Inc raises FY 2014 revenue guidance; lowers FY 2014 EPS guidance
Monday, 28 Jul 2014 05:08pm EDT 

Owens & Minor Inc:Expects FY 2014 revenue growth to exceed 2pct.Expects FY 2014 adjusted net income per diluted share to be within a range of $1.80 to $1.90, excluding acquisition-related and exit and realignment activities.Reported revenue of $9.07 billion in FY 2013.FY 2014 revenue of $9.23 billion and EPS of $1.97 - Thomson Reuters I/B/E/S.  Full Article

Owens & Minor to acquire Medical Action Industries
Wednesday, 25 Jun 2014 07:01am EDT 

Owens & Minor Inc and Medical Action Industries Inc:Signs definitive agreement under which Owens & Minor will acquire all outstanding shares of Medical Action for $13.80 per share in cash, representing a total transaction value of about $208 mln, including assumed debt, net of cash.  Full Article

Owens & Minor Inc announces second quarter 2014 cash dividend of $0.25 per share
Wednesday, 30 Apr 2014 10:00pm EDT 

Owens & Minor Inc:Approved second quarter 2014 cash dividend in the amount of $0.25 per share.The cash dividend is payable on June 30.Payable to shareholders of record as of June 16.  Full Article

Owens & Minor Inc reiterates FY 2014 guidance
Monday, 28 Apr 2014 05:17pm EDT 

Owens & Minor Inc:Says it reiterate financial guidance for FY 2014.Expects FY 2014 revenue growth of up to 2 pct.Expects FY 2014 adjusted net income per diluted share of $1.95 to $2.05.Reported revenue of $9.07 billion in FY 2013.FY 2014 revenue of $9.255 billion and EPS of $2.02 - Thomson Reuters I/B/E/S.  Full Article

Owens & Minor Inc approves quarter dividend of $0.25 per share and authorizes 3-year, $100 mln share repurchase program
Monday, 10 Feb 2014 05:34pm EST 

Owens & Minor Inc:Approves the payment of the first quarter 2014 cash dividend in the amount of $0.25 per share, a 4.2 pct increase over the prior quarter's dividend.Says cash dividend is payable on Mar. 31, 2014, to shareholders of record as of Mar. 17, 2014.Authorizes a share repurchase program of up to $100 million of the company's outstanding common stock to be executed at the discretion of management over a three-year period, expiring in February 2017.Says timing of repurchases and the exact number of shares of common stock to be purchased will be determined by management and will depend upon market conditions and other factors.Says program is intended, in part, to offset shares issued in conjunction with the company's stock-based compensation and may be suspended or discontinued at any time.  Full Article

Fitch Rates Owens & Minor's New Debt 'BBB-'; Outlook Stable

(The following statement was released by the rating agency) CHICAGO, September 11 (Fitch) Fitch Ratings has assigned a 'BBB-' rating to the new senior unsecured bonds issued by Owens & Minor, Inc. (NYSE: OMI). Bond proceeds are expected to be used to redeem OMI's $200 million of 2016 bonds, to fund the $233 million purchase of Medical Action Industries Inc., and for general corporate purposes. A full list of current ratings follows at the end of this release. The Rating Outlook is Stable. K

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