As a leader in wholesale distribution, we continually assess market trends and our business position. Industry pressures have continued to challenge our customers, and we've seen firsthand the impact it's had on them. We see this transaction as the right path forward, at the right time, with the right partner to ensure the future success of our customers and the patients they serve. We are confident AmerisourceBergen's aligned values will carry forward the H. D. Smith legacy and hallmark of extraordinary customer service.
Nothing will change for now. Your rep will still call on you, you will still order through OBX and you will call Customer Service as you have been.
The market is forcing independent pharmacy owners to find new ways to remain profitable and relevant in this challenging environment, and this partnership will allow us to better deliver that to you. You are working non-stop to secure your future, and we know this acquisition will put you in a better position to help you care for your patients into the future.
Per the details in the press release, this is an all stock deal. In all stock deals, all agreements are assumed by the acquirer. Thus, AmerisourceBergen is assuming your contract. Your H. D. Smith contract will be honored.
Your agreement with the Arete Pharmacy Network is separate from your agreement with H. D. Smith and not impacted by this transaction.
We anticipate that the quiet period beginning Nov. 20, 2017, per the Hart-Scott-Rodino Antitrust Improvements Act, will be in effect for 30 to 45 days, pending FTC review of the transaction. During this time, both H. D. Smith and AmerisourceBergen, legally, must continue to operate independently in the marketplace, and without joint activity. Discussions regarding after close activities are prohibited by anti-trust laws. The transaction is expected to close late in this calendar year or early 2018.
During the initial "quiet period" (from the signing until the formal closing) and prior to formal completion of the deal ("closing"), the HSR Act prevents both parties from taking any steps to make changes to their existing businesses in anticipation of completion. As such, both companies, legally, must continue to operate independently in the marketplace and without joint activity during this waiting period. This mandates "business as usual" until the transaction has been formally completed and the companies develop a joint future together. "Business as usual" means current contracts, ordering, delivery, billing, account management, sales support and customer support will remain unchanged, even if a customer purchases from both AmerisourceBergen and H. D. Smith today. Customers should continue to order product as they have in the past and work with their current sales contact with each respective company. Post-close, we will continue to provide additional information, but you will continue to operate "business as usual."