Dan Primack

The latest on private equity, M&A, deals and movements — from Wall Street to Silicon Valley

Trump pal inks $1.3 billion merger

November 18, 2010: 8:02 AM ET

Stewart Rahr

A group of Donald Trump's pals recently launched a website called ShouldTrumpRun, trying to convince the bloviating billionaire to take on President Obama in 2012. It's gotten a bit of media attention, with Trump telling George Stephanopoulos that a White House bid "could be fun."

Helping to lead the charge is Stewart Rahr, a billionaire buddy who Forbes lists as America's 170th richest person. Now it looks like Rahr's pockets will get a bit heavier, as Cardinal Health (CAH) has agreed to buy his company, Kinray Inc., for $1.3 billion in cash.

For those not familiar with the pharma market, Kinray is a giant drug distributor in the New York metropolitan area. It reports around $3.5 billion in annual sales, with around 1,000 employees and over 2,000 customers. Dublin, Ohio-based Cardinal will use Kinray to strengthen its Northeastern U.S. platform, plus increase its retail independent pharmacy base by around 40 percent.

The deal is expected to close by year-end. Kinray was repped by law firm Dechert LLP, while Cardinal used Wachtell, Lipton, Rosen & Katz.

No word yet on what Rahr's role will be going forward, if any. Even if he sticks with Cardinal for a while, he'll certainly have a bit more free time. Maybe that means the chief executive's next role will be as campaign manager...

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About This Author
Dan Primack
Dan Primack
Senior Editor, Fortune

Dan Primack joined Fortune.com in September 2010 to cover deals and dealmakers, from Wall Street to Sand Hill Road. Previously, Dan was an editor-at-large with Thomson Reuters, where he launched both peHUB.com and the peHUB Wire email service. In a past journalistic life, Dan ran a community paper in Roxbury, Massachusetts. He currently lives just outside of Boston.

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