Investors showed their approval of Cardinal Health Inc.'s (NYSE:CAH) $1.3 billion acquisition of drug distributor Kinray Inc., bidding up Cardinal's shares to their largest daily gain in a year and a half on Thursday.
The acquisition of Kinray Inc. for $1.3 billion will allow Cardinal to significantly expand its retail business with independent pharmacies and offers the Dublin, Ohio-based company access to the lucrative New York metropolitan area market.
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