Owens & Minor, Inc. -- Moody's says Owens & Minor proposed acquisition is a modest credit positive; ratings unaffected

New York, June 26, 2014 -- Moody's Investors Service commented that Owens & Minor, Inc. (Ba1 stable) announced on June 25 it entered into a definitive agreement to acquire all outstanding shares of Medical Action Industries Inc. ("MDCI", "Medical Action") for $13.80 per share in cash, representing a total transaction value of $208 million, including assumed debt, net of cash. The acquisition is a modest credit positive as it broadens Owens & Minor's service offering to provider and manufacturer customers, counterbalanced by the expectation for a reduction in cash and revolver availability to fund the transaction.

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