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Ebos Group Ltd. will become the largest pharmaceutical wholesaler in Australia and New Zealand after agreeing a NZ$865 million ($700 million) takeover of Australia’s Symbion Ltd.
Ebos will raise NZ$367 million in cash and issue NZ$498 million of shares to The Zuellig Group Inc., which owns Symbion, the Christchurch-based company said in a statement. Ebos shares are halted while an institutional share placement to raise NZ$90 million is conducted, while a 7-for-20 rights offer is also proposed.
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