Henry Schein pushes back date for animal health spinout

Henry Schein (NSDQ:HSIC) said today that it is shifting the date for the spin-out of its animal health business, now dubbed “Covetrus,” from February 4 to February 7.

The change was implemented by the Melville, N.Y.-based company’s board of directors, according to company press release.

The new date reflects the new anticipated date for distribution of shares in the spinoff company to shareholders of Henry Schein, according to the release.

Each prior shareholder in Henry Schein will receive a 0.4 share dividend of Covetrus stock for each Henry Schein share held as of January 17. The newly spun-out company is slated to trade under the symbol “CVET,” Henry Schein said.

The company warned that it has filed an amended registration related to its recently announced spinoff ‘s merger with Vets First Choice, but that it now anticipates the amended statement “will become effective no later than February 4, 2019 (assuming a continuation of the U.S. federal government shutdown), rather than January 28, 2019,” according to a press release.

Last week, Henry Schein set an initial timetable for the spinout of its animal health business in a merger with Vets First Choice, branding the soon-to-be-public company as Covetrus. The spin-out was first announced last April.

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