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Premier using $100M to settle unit exchange

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Premier using $100M to settle unit exchange

PremierInc.'s board has authorized up to $100 million in cash to partiallysettle its quarterly member-owner exchange of class B common shares of PremierHealthcare Alliance LP on Oct. 31.

Premier said 46 of the company's 171 member-owners haveindicated that they plan to exchange about 5.0 million units. Any class B unitsnot settled in cash will be exchanged for class A common shares on a 1-for-1basis.

Since the company will settle part of the exchange for cash,Premier does not plan to conduct a company-directed offering as it has in thepast two years following the Oct. 31 exchange.