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Bergen Brunswig Corp. said it has become...

Bergen Brunswig Corp. said it has become the subject of a shareholder lawsuit challenging its recapitalization plan that would transfer control of the company from the founding family to other shareholders upon their retirement. The transfer would be accomplished by converting shares of control stock, now 97% owned by the Martini family, to common, publicly traded shares. Shareholders are scheduled to vote on the restructuring proposal on Dec. 1. The 21-page Superior Court suit contends, among other things, that the plan is unfair to common share holders, since it would dilute the value of the shares, according to Bergen Brunswig Secretary John T. Fay Jr. “We think the suit is without merit. We carefully reached this proposal after an independent committee reviewed it for months and after the investment bank Lazard Feres issued a fairness opinion,” Fay said. “We will engage our attorneys with their attorneys and continue the argument,” he said.


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