-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: keymaster@town.hall.org Originator-Key-Asymmetric: MFkwCgYEVQgBAQICAgADSwAwSAJBALeWW4xDV4i7+b6+UyPn5RtObb1cJ7VkACDq pKb9/DClgTKIm08lCfoilvi9Wl4SODbR1+1waHhiGmeZO8OdgLUCAwEAAQ== MIC-Info: RSA-MD5,RSA, Y8l5m1DjCuV0dS9E0DMeMpVRcXdCuNsTeBGRClU1Lm75BfB4jb0VGw7hH+OXgmCK 8NpEI92NHcp1NBeBxDNqQQ== 0000011454-95-000028.txt : 19950801 0000011454-95-000028.hdr.sgml : 19950801 ACCESSION NUMBER: 0000011454-95-000028 CONFORMED SUBMISSION TYPE: 424B3 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19950731 SROS: NASD SROS: NYSE FILER: COMPANY DATA: COMPANY CONFORMED NAME: BERGEN BRUNSWIG CORP CENTRAL INDEX KEY: 0000011454 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-DRUGS PROPRIETARIES & DRUGGISTS' SUNDRIES [5122] IRS NUMBER: 221444512 STATE OF INCORPORATION: NJ FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 424B3 SEC ACT: 1933 Act SEC FILE NUMBER: 033-59784 FILM NUMBER: 95557559 BUSINESS ADDRESS: STREET 1: 4000 METROPOLITAN DR CITY: ORANGE STATE: CA ZIP: 92668 BUSINESS PHONE: 7143854000 MAIL ADDRESS: STREET 1: 4000 METROPOLITAN DRIVE CITY: ORANGE STATE: CA ZIP: 92668 FORMER COMPANY: FORMER CONFORMED NAME: BERGEN DRUG CO INC DATE OF NAME CHANGE: 19690409 424B3 1 BERGEN BRUNSWIG CORPORATION FORM 424B3 FILING BERGEN BRUNSWIG CORPORATION ________________ 500,000 Shares Class A Common Stock $1.50 Par Value INTRODUCTION This Prospectus relates to up to 500,000 shares of the Class A Common Stock, $1.50 par value (the "Common Stock"), of Bergen Brunswig Corporation (the "Company"), which will be offered by certain shareholders of the Company. See "Selling Shareholders". The Company will not receive any of the proceeds from the sale of shares by the selling shareholders. The shares of Common Stock offered hereby were issued by the Company to Healthcare Distributors of Indiana, Inc., an Indiana corporation ("HDI"), in connection with the acquisition by a subsidiary of the Company of substantially all of the net assets and business of HDI on January 29, 1993. Thereafter, HDI liquidated and, in connection therewith, distributed the shares offered hereby to its shareholders. Accordingly, the shares offered hereby will be sold by the shareholders of HDI or one of such shareholders' transferees (the "Selling Shareholders"). The number of shares offered hereby is subject to reduction under certain circumstances. See "Selling Shareholders". The Common Stock is listed on the New York Stock Exchange. The shares of Common Stock offered hereby are offered without underwriters at the market - that is, at the price in effect on the New York Stock Exchange at the time of sale by the Selling Shareholders. On July 24, 1995, the closing sales price of the Common Stock on the New York Stock Exchange was $22.50 per share. The Company will bear substantially all expenses in connection with the registration of the Common Stock being registered hereby, which expenses payable by the Company are estimated to be approximately $25,000. The Selling Shareholders will pay all brokerage commissions incurred in connection with the sale of shares of Common Stock at the market. ___________________________ THESE SECURITIES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION, NOR HAS THE SECURITIES AND EXCHANGE COMMISSION OR ANY STATE SECURITIES COMMISSION PASSED UPON THE ACCURACY OR ADEQUACY OF THIS PROSPECTUS. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. ___________________________ The date of this Prospectus is July 24, 1995. No person has been authorized to give any information or to make any representations other than as contained in this Prospectus in connection with the offer made hereby, and, if given or made, such information or representations must not be relied upon as having been authorized by the Company. The delivery of this Prospectus at any time does not imply that the information herein is correct as of any time subsequent to the date hereof. This Prospectus does not constitute an offer to sell securities in any jurisdiction to any person to whom it is unlawful to make such offer in such jurisdiction. AVAILABLE INFORMATION The Company is subject to the informational requirements of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and, in accordance therewith, files reports and other information with the Securities and Exchange Commission (the "Commission"). Reports, proxy statements and other information filed by the Company can be inspected and copied at the offices of the Commission at Room 1024, Judiciary Plaza, 450 Fifth Street, N.W., Washington, D.C. 20549 and the Commission's Regional Offices in New York (Seven World Trade Center, 13th Floor, New York, New York 10048) and Chicago (Suite 1400, Northwest Atrium Center, 500 West Madison Street, Chicago, Illinois 60661), and copies of such materials can be obtained from the Public Reference Section of the Commission at 450 Fifth Street, N.W., Washington, D.C. 20549 at prescribed rates. Reports, proxy statements and other information concerning the Company may also be inspected at the offices of the New York Stock Exchange, Inc., at 20 Broad Street, New York, New York 10005. INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE There are incorporated herein by reference the following documents of the Company heretofore filed by it with the Commission: (a) Annual Report on Form 10-K for the year ended September 30, 1994, including the portions of the Company's Annual Report to Shareowners incorporated therein; (b) Quarterly Report on Form 10-Q for the period ended March 31, 1995; (c) Current Reports on Form 8-K dated March 3, 1995, April 24, 1995 and May 23, 1995; and (d) Registration Statements on Form-8-A dated October 20, 1993 and February 14, 1994. All documents filed by the Company pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act subsequent to the date of this Prospectus and prior to the termination of this offering shall be deemed to be incorporated by reference into this Prospectus. Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Prospectus to the extent that a statement - 2 - contained herein or in any other subsequently filed document which also is or is deemed to be incorporated by reference herein modifies or supersedes such statement. Any statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Prospectus. The Company will provide without charge to each person, including any beneficial owner of Common Stock, to whom this Prospectus is delivered, upon written or oral request of such person, a copy of any and all of the documents that have been incorporated by reference in this Prospectus (not including exhibits to such documents unless such exhibits are specifically incorporated by reference into such documents). Requests should be directed to Bergen Brunswig Corporation, 4000 Metropolitan Drive, Orange, California 92668-3510, Attention: Milan A. Sawdei, Secretary; telephone number (714) 385-4255. THE COMPANY Bergen Brunswig Corporation, through its subsidiaries, is a diversified pharmaceutical and health care product distribution organization and, as such, is one of the nation's largest suppliers of pharmaceuticals to hospitals and managed care facilities, one of the largest suppliers of pharmaceuticals and health care products to chain and independent pharmacies, and a supplier of medical and surgical products to hospitals, clinics and alternate site health care facilities. The Company is incorporated in New Jersey and maintains its principal executive offices at 4000 Metropolitan Drive, Orange, California 92668-3510; telephone (714) 385-4000. SELLING SHAREHOLDERS On December 11, 1992, the Company, a subsidiary of the Company (the "Subsidiary"), HDI, the principal shareholder of HDI and its landlord entered into an Agreement and Plan of Reorganization (the "Agreement"). Pursuant to the terms of the Agreement, as amended, the Subsidiary acquired substantially all of the business, assets and property of HDI. In exchange, the Subsidiary agreed to assume certain liabilities of HDI and the Company agreed to issue shares of Common Stock to HDI having a market value equal to the "Net Asset Value" of HDI on January 29, 1993 (the "Closing Date") plus $2,000,000. The Net Asset Value of HDI is defined in the Agreement to mean HDI's assets transferred to the Subsidiary, valued in accordance with the terms and provisions of the Agreement, less the liabilities assumed under the Agreement, valued in accordance with the terms and provisions of the Agreement. Pursuant to the Agreement: (i) On the Closing Date, the Company issued an aggregate of 471,565 shares of Common Stock, 330,095 of which were issued in the name of HDI free of escrow and 141,470 of which were delivered to an escrow agent (the "Escrow Agent"); (ii) Accountants for the Company and HDI performed an audit of HDI as of the Closing Date. The Agreement provided that if the Net Asset Value as - 3 - of the Closing Date (the "Closing Net Asset Value") were determined to be less than $7,431,300 (the "Estimated Net Asset Value"), the Company would be entitled to a refund of that number of shares of Common Stock determined by taking the excess of the Estimated Net Asset Value over the Closing Net Asset Value and dividing such amount by the "Market Value," which is defined in the Agreement as $20 per share (the average of the high and low sales prices of the Common Stock on December 11, 1992, the date of the Agreement). In such instance, the Agreement provided that 70% of the refund shares would be returned by HDI and the 30% balance would be returned by the Escrow Agent. The Agreement further provided that if the Closing Net Asset Value exceeded the Estimated Net Asset Value, the Company would issue that number of additional shares of Common Stock determined by dividing such excess by the Market Value. In such instance, the Agreement provided that 70% of the additional number of shares would be delivered to HDI and the 30% balance would be delivered to the Escrow Agent. (iii) The Escrow Agent (and HDI and/or its shareholders, if insufficient shares are available from the Escrow Agent) is required to return shares of Common Stock to the Company in the event that (a) the Subsidiary assigns to HDI certain uncollected trade accounts receivable, (b) debit memos of HDI are rejected or not honored after the Closing Date, (c) notes receivable assigned to the Subsidiary on the Closing Date go into default, or (d) certain indemnification claims are made by the Company, all as described in the Agreement. (iv) To date, as a result of the above-mentioned provisions, a total of 37,608 shares of Common Stock have been returned to the Company, consisting of 26,326 shares from HDI's shareholders and 11,282 shares from the Escrow Agreement. Additional shares were issued pursuant to a 5% stock dividend effected on March 1, 1995 (the "Stock Dividend"). The number of shares offered hereby may be further reduced (but no longer increased) pursuant to the terms of the Agreement described above. HDI adopted a plan of liquidation pursuant to which HDI's shareholders will receive all of the Common Stock ultimately transferred to HDI pursuant to the Agreement. The following table sets forth information as to the approximate number of shares of Common Stock allocable to each of HDI's shareholders pursuant to such plan of liquidation, assuming that 433,957 shares of Common Stock will be delivered to HDI and transferred by HDI pro rata to such shareholders pursuant to HDI's plan of liquidation. Number of Shares Shareholder Owned Before Offering ----------- --------------------- W. Michael Keiser ("WMK") 86,791 Frank D. Darnell ("FDD") 161,215 Nancy Darnell ("ND") 161,215 David A. Darnell ("DAD") 24,736 - 4 - FDD intends to contribute 20,000 or more of his shares of Common Stock to Richmond-Master Distributors, Inc. ("RM"). This Registration Statement covers the offering at the market of (i) the shares of Common Stock distributed by HDI to each of WMK, ND and DAD, (ii) the shares of Common Stock distributed by HDI to FDD and contributed by FDD to RM and (iii) the remaining shares of Common Stock distributed by HDI to FDD, in each case including shares issued pursuant to the Stock Dividend. For purposes of this Registration Statement, each of WMK, ND, DAD, FDD and RM (none of whom own one percent (1%) of the outstanding common stock) are Selling Shareholders. It is anticipated that upon completion of this offering, the Selling Shareholders will not own any shares of Common Stock. Prior to the Closing Date, none of the Selling Shareholders has ever held any position or office or had any material relationship with the Company. MANNER OF SALE The Common Stock is listed on the New York Stock Exchange. It is anticipated that the Selling Shareholders will sell the shares of Common Stock at the market, that is, at the price in effect on the New York Stock Exchange at the time of sale to investors. Sales will be effected by registered broker/dealers on the New York Stock Exchange. EXPERTS The consolidated financial statements and the related financial statement schedules of the Company as of September 30, 1994 and August 31, 1993, for the year ended September 30, 1994, for the one month ended September 30, 1993 and for the years ended August 31, 1993 and 1992, incorporated in this Prospectus by reference to the Company's Annual Report on Form 10-K for the year ended September 30, 1994 and to the Company's Current Report on Form 8-K dated April 24, 1995, have been audited by Deloitte & Touche LLP, independent auditors, as stated in their reports, which are incorporated herein by reference, and have been so incorporated in reliance upon such reports given upon the authority of said firm as experts in auditing and accounting. - 5 - -----END PRIVACY-ENHANCED MESSAGE-----