Form 4: Patterson Companies Director Disposes of Shares in Merger Transaction

Director Jody H Feragen reports the disposition of Patterson Companies (PDCO) shares following the completion of a merger, where each share was converted into $31.35 in cash.

Summary

• On April 17, 2025, Jody H Feragen, a director of Patterson Companies, Inc. (PDCO), reported the disposition of 56,145 shares of common stock.
• This disposition occurred as a result of the merger between Patterson Companies and Paradigm Merger Sub, Inc., a subsidiary of Paradigm Parent, LLC.
• According to the merger agreement dated December 10, 2024, each outstanding share of Patterson Companies was converted into the right to receive $31.35 in cash.
• The disposition was approved by Patterson's Board of Directors for purposes of Rule 16b-3 of the Exchange Act.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing related to a merger, so the sentiment is neutral.

Future Outlook

The document does not contain any specific forward-looking statements beyond the completion of the merger.

Management Comments

• Patterson's Board of Directors approved the disposition of all equity securities by the Reporting Person in connection with the merger.

Industry Context

The merger indicates a potential shift in the competitive landscape of the dental and animal health industries, where Patterson Companies operates.

Comparison to Industry Standards

• The acquisition price of $31.35 per share can be compared to recent M&A transactions in the healthcare distribution sector to assess its fairness.
• Comparable companies in the distribution space include McKesson, Cardinal Health, and Henry Schein, whose valuations and deal multiples could provide context.

Stakeholder Impact

• Shareholders received $31.35 in cash for each share they held.
• Employees may experience changes as a result of the merger.

Key Dates

Keywords

Merger, Patterson Companies, PDCO, Share Disposition, Form 4, Director, Jody H Feragen