Cencora to buy American Oncology Network in $2.4 billion deal; shares fall

** Shares of Cencora COR.N fall nearly 2% to $338.27 premarket

** Drug distributor to buy cancer care provider American Oncology Network AONC.PK

** Deal valued at up to $2.4 bln, with $2.3 bln payable at closing and contingent value rights worth up to $100 mln

** Co, which owns about 4% of AONC, will buy the rest of the equity

** Expects deal to add to adj EPS in the second year after closing

** COR now sees FY26 adj EPS of at least $17.90, near the high end of its prior $17.75-$17.95 range

** Deal follows co's 2025 purchase of majority control of OneOncology for $5 bln

** Rivals McKesson MCK.N and Cardinal Health CAH.N have also bought oncology networks in recent years

** As of last close, stock has risen 1.6% YTD