Syncor Board Approves Employee Stock Plan
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Syncor International, a Chatsworth provider of specialized pharmaceuticals, said its board approved the adoption of an employee stock ownership plan for about 10% of Syncor’s stock.
The plan is expected to purchase 1 million of Syncor’s total common shares outstanding from Compagnie Oris Industrie, a French health-care concern, for $6.50 a share. Syncor had announced in September that it planned to purchase those shares.
That stock, together with shares held in employee-savings plans, will increase Syncor workers’ stake in the firm to nearly 13%.
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