SPECIAL NEWS BULLETIN <P>WinWholesale Acquires Noland Co.
Noland to be taken private; Stock purchased at 50%+ premium.
WinWholesale, ranked #3 in this year's Premier 150 list of the nation's largest PHCP distributors, announced on April 12 that it has signed an agreement of merger with Noland Co., ranked #12 on our Premier 150 list.
Under the terms of the agreement, which was unanimously approved by both companies' boards of directors and by a special committee of the board of directors of Noland Co., WinWholesale will pay $74.00 in cash for each Noland share. Based on shares outstanding, this would put the value of the deal at around $250 million. The purchase price represents a 52% premium over the $48.58 Noland's stock closed at on the day before the announcement. The stock had been trading between $41 and $52 for the past year.