2023-03-28 16:14:54 ET
- Cardinal Health ( NYSE: CAH ) is looking at a possible sale of its nuclear medicine business in a sale that could fetch more than $1 billion.
- The drug distributor is working with advisers to see if there's interest in the business, according to a Bloomberg report, which cited people familiar. Several private equity firms are considering bids for the unit. A final decision on a sale hasn't been made and Cardinal may decide to retain the business.
- The news comes after Cardinal Health ( CAH ) in September entered into a cooperation agreement with activist Elliott Management , which included a business review.
- Cardinal Health ( CAH ) rose 1.7% in regular trading on Tuesday.
- Cardinal Health ( CAH ) was raised to to outperform from neutral at Baird last month after the drug wholesaler raised its 2023 profit guidance and its quarterly results beat on the top and bottom lines.
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Cardinal Health to evaluate possible sale of nuclear medicine business