Stock Divestiture: McKesson Corp. in San Francisco...
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Stock Divestiture: McKesson Corp. in San Francisco said this week that it will sell 4.5 million shares of Armor All common stock at $16 apiece.
A prospectus for the planned stock sale, which will be held later this year, can be obtained from Morgan Stanley & Co. in New York.
McKesson said it will keep 61% of Armor All’s 21 million outstanding shares. The sale is designed to “improve the liquidity in the market” for Armor All shares.
But the sale also reflects McKesson’s growing focus on the health care segment of its business.
Armor All closed at $16.125 a share, down $0.25, in Thursday’s NASDAQ trading.
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