Owens & Minor Inc is exploring a sale of the company, people familiar with the matter said on Wednesday, as the U.S. medical supplies distributor seeks ways to recover from a string of disappointing earnings.
The Mechanicsville, Virginia-based company`s shares tumbled as much as 20 percent on Wednesday, the day after it reported fourth-quarter earnings that missed analysts` expectations amid fierce price competition in its hospital supplies business.
Owens & Minor is working with investment banks to explore a sale, the sources said, asking not to be named because the matter is confidential. They cautioned that there is no guarantee that the talks will result in a deal.
Owens & Minor did not respond to a request for comment.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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