November 22, 2002 |
Drug wholesaler Cardinal Health Inc. has started talks about possibly revising its $1.1-billion deal for Syncor International Corp., the Woodland Hills-based nuclear pharmacy services company that is investigating whether its subsidiaries made improper payments to overseas customers. Based on its review so far, Syncor believes it can satisfy conditions of the acquisition, the firms said in a joint statement. Cardinal said it had not concluded whether the merger could be completed.
November 20, 2002 |
Syncor International Corp., which is investigating suspected bribes by its overseas units, said Tuesday that its Taiwan operation made $500,000 in apparently illegal payments to customers in the last five years. Woodland Hills-based Syncor also said a committee of its outside directors turned up "questionable payments and other transactions" in at least six other countries, which it said may have violated the Foreign Corrupt Practices Act and other U.S. laws.
November 14, 2002 |
Seeking more time to investigate possible bribes to foreign officials, nuclear medicine provider Syncor International Corp. said it will request a five-day extension for filing its Sept. 30 quarterly financial results with the Securities and Exchange Commission. In a disclosure that cut its stock price in half last week, Syncor said it hired outside lawyers to investigate payments by its foreign subsidiaries.
November 9, 2002 |
The stock of nuclear-medicine provider Syncor International Corp. melted down for a third day Friday as lawsuits seeking class-action status accused the company of misleading shareholders by concealing the payment of bribes overseas. Woodland Hills-based Syncor said Wednesday that its founder, Monty Fu, and his brother Moses Fu, who ran the company's foreign operations, have been put on leave while a board committee investigates payments to customers in China, Taiwan and other countries.
November 7, 2002 |
Nuclear medicine provider Syncor International Corp. said Wednesday that it may have broken U.S. bribery laws by making payments to health-care facilities in Taiwan and China -- a disclosure that hammered the stock price of the Woodland Hills company and put on hold its pending acquisition by Cardinal Health Inc.
June 15, 2002 |
Drug wholesaler Cardinal Health Inc. said it will pay about $870 million in stock to buy Syncor International Corp., the leading provider of pharmacy services that uses radioactive compounds to diagnose and treat ailments. Dublin, Ohio-based Cardinal is buying the business to supplement its 2001 acquisition of Bindley Western, which has a strong franchise in nuclear medicine. The deal's value is based on the 14 million Cardinal shares offered to Syncor holders at $62.