Amerisource shares jump on Walgreens buyout report

Associated Press |

NEW YORK (AP) — Shares of AmerisourceBergen are soaring before the opening bell on reports that Walgreens is pursuing a complete takeover of the huge drug distributor.

The Wall Street Journal reported Tuesday that Walgreens CEO Stefano Pessina reached out to AmerisourceBergen Corp. with the potential deal. Walgreens already owns about 26 percent of the company.

AmerisourceBergen Corp. jumped 14 percent, to $102.01 in premarket trading.

Walgreens Boots Alliance Inc. is the nation's largest drugstore operator. Control of AmerisourceBergen would provide the company with a tight grip on its supply chain. Walgreens is facing increased competition both from inside the sector and potentially imposing new rivals like Amazon.com Inc.

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