By Carl O'Donnell
(Reuters) - Owens & Minor Inc is exploring a sale of the company, people familiar with the matter said on Wednesday, as the U.S. medical supplies distributor seeks ways to recover from a string of disappointing earnings.
The Mechanicsville, Virginia-based company's shares tumbled as much as 20 percent on Wednesday, the day after it reported fourth-quarter earnings that missed analysts' expectations amid fierce price competition in its hospital supplies business.
Owens & Minor is working with investment banks to explore a sale, the sources said, asking not to be named because the matter is confidential. They cautioned that there is no guarantee that the talks will result in a deal.
Owens & Minor did not respond to a request for comment.
(Reporting by Carl O'Donnell in New York; Editing by David Gregorio)
This story has not been edited by Firstpost staff and is generated by auto-feed.
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Updated Date: Feb 21, 2019 01:05:35 IST