Cencora, Inc. (COR) Form 8-K — Oct 21, 2026
Cencora (NYSE: COR) announced a definitive agreement to acquire American Oncology Network (OTCQX: AONC), a physician-led network of more than 350 oncology providers across 21 states, in a deal valuing AON at an enterprise value of $2.4 billion. Cencora currently holds about 4% of AON and expects to pay roughly $1.7 billion in cash to raise its ownership to 75%, assuming AON stockholders roll over up to 25% of equity; total consideration includes $2.3 billion at closing plus CVRs of up to $100 million. Alongside the deal, Cencora raised its fiscal 2026 adjusted diluted EPS guidance to at least $17.90, at the high end of its prior $17.75-$17.95 range, citing strength in its U.S.
Key figures
- Guidance
- FY2026 adjusted diluted EPS raised to at least $17.90, at the high end of the previous $17.75-$17.95 range
- Deal Value Usd
- 2400000000
- Gross Proceeds
- 0
- Aon providers
- more than 350 oncology providers across 21 states
- Closing payment
- $2.3 billion at closing plus CVRs of up to $100 million
- Equity rollover
- up to 25% of AON
- Accretion timing
- accretive to adjusted diluted EPS in second year post-closing
- Current aon stake
- approximately 4%
- Expected cash outlay
- approximately $1.7 billion (assuming 25% equity rollover, ownership to 75%)
- Cencora annual revenue
- more than $300 billion
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