Nyer Medical's (NYSE) D.A.W. to Sell Assets to Walgreen's (WAG) for $12M
More News related to NYER
- Unusual 11 Mid-Day Movers 10/26: NYER, SMLC, ALD, IGLD Higher; FTWR, PVTB, FOH, ING Lower
- Morning Movers 10/26: NYER, SMLC, IGLD, AMIE, ALD, PRKR Higher; FTWR, PVTB, SMA, FOH, SOHU Lower
- Nyer Medical's (NYSE) D.A.W. to Sell Assets to Walgreen's (WAG) for $12M
- Nyer Medical Group, Inc., Announces Agreements to Sell Certain Eaton Apothecary Assets to Walgreens and Sell Operating Subsidiary's Stock to Investors
- Walgreens Agrees to Acquire Assets of 12 Eaton Apothecary Pharmacies in Boston Area
More News related to NYER
- Unusual 11 Mid-Day Movers 10/26: NYER, SMLC, ALD, IGLD Higher; FTWR, PVTB, FOH, ING Lower
- Morning Movers 10/26: NYER, SMLC, IGLD, AMIE, ALD, PRKR Higher; FTWR, PVTB, SMA, FOH, SOHU Lower
- Nyer Medical's (NYSE) D.A.W. to Sell Assets to Walgreen's (WAG) for $12M
- Nyer Medical Group, Inc., Announces Agreements to Sell Certain Eaton Apothecary Assets to Walgreens and Sell Operating Subsidiary's Stock to Investors
- Walgreens Agrees to Acquire Assets of 12 Eaton Apothecary Pharmacies in Boston Area
More News related to WAG
- Additional Seasonal Flu Vaccine Now Available at Take Care Clinics Nationwide
- 2010 IR Global Rankings: Invitation for Investors and Analysts Vote for Companies with the Best IR Program and for the Best IR Officer
- Walgreens CEO to Present at Morgan Stanley Global Consumer and Retail Conference
- Electronic Prescriptions Reach 4 Million Mark at Walgreens in October
- Walgreens and Take Care Health Systems Applaud Health Care Professionals During National Nurse Practitioner Week
Nyer Medical Group, Inc., (NASDAQ: NYER) announced today that D.A.W., Inc., a wholly-owned subsidiary of Nyer which does business under the name Eaton Apothecary, and Nyer entered into a definitive agreement with Walgreen Eastern Co. (NYSE: WAG), Inc. for the sale of a substantial portion of DAW's operating assets, including prescription files and inventory of a total of 12 neighborhood pharmacies which includes the assignment of eight leases, for a purchase price, subject to certain adjustments, of $12.0 million plus up to $5.75 million of qualifying inventory and $1.1 million of operating equipment.
In addition, Nyer also announced today that Nyer and DAW entered into a definitive agreement with certain management investors for the sale of the stock of DAW following the closing of the Walgreens transaction, under which Nyer will receive a benefit of $1,500,000 after giving effect to liabilities to be retained by DAW.
The completion of the asset sale to Walgreens, sale of DAW stock to investors and plan of dissolution are each subject to certain closing conditions, including the approval of Nyer's shareholders. The transactions are expected to close within the next 90 days.
Related Categories
Mergers and AcquisitionsStocks Mentioned
+0.02
-0.06Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
