Filing Flows › Cencora (COR) › Takeover & LBO
Is Cencora (COR) a takeover target?
A leveraged buyout does not work for Cencora on its latest figures: its EBITDA margin is only 1.2% ($4.1B on revenue of $332.8B), too thin to carry buyout debt. Historically 2.4% of companies with its figures were bought within a year (0.48× the average).
Why a leveraged buyout does not fit
Cencora kept 1.2% of its revenue as EBITDA over the last 12 months ($4.1B on $332.8B). A margin that thin cannot carry the debt a leveraged buyout needs — a small dip in sales would leave nothing for interest — so the model gives no buyout price.
What a takeover could cost
Takeovers in its sector paid a median premium of 35% over the share price before the deal (the middle half 22% to 45%), according to the 15 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, Cencora would cost about $458.57 a share, $88.9B for all its shares.
| Premium | % | Price a share | All shares |
|---|---|---|---|
| Low end (a quarter of deals paid less) | 22% | $414.41 | $80.4B |
| Median | 35% | $458.57 | $88.9B |
| High end (a quarter paid more) | 45% | $492.54 | $95.5B |
The odds, from history
Historically 2.4% of companies with its figures were bought within a year (0.48× the average). Its figures put it in decile 1 of 10 (10 = the most likely to be bought). The odds come from a model of every merger proxy, tender-offer response and going-private statement filed on EDGAR since 2011, set against each company's size, margins, debt, cash flow and growth the year before.
Cencora's latest quarter
Cencora, Q3 FY26: revenue $84.8B (+5% year over year), operating margin 1.3%, net earnings $777M, operating cash flow $2.7B. The chart follows the revenue to costs, profit and cash.
Questions
Is Cencora being acquired?
No headline, 8-K or 13D about a sale is on file in the last year.
Could private equity buy Cencora?
A leveraged buyout does not work for Cencora on its latest figures: its EBITDA margin is only 1.2% ($4.1B on revenue of $332.8B), too thin to carry buyout debt. A margin that thin leaves almost nothing to pay interest with, so buyout debt does not fit.
What would a takeover of Cencora cost?
Takeovers in its sector paid a median premium of 35% over the share price before the deal (the middle half 22% to 45%), according to the 15 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, Cencora would cost about $458.57 a share, $88.9B for all its shares.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.