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How will the kind of news below affect stock? Short term vs long term?

RICHMOND, Va., Aug 5, 2003 /PRNewswire-FirstCall via COMTEX/ -- Owens &
Minor, Inc. (OMI) announced today that it has initiated the redemption of all of the outstanding $2.6875 Term Convertible Securities, Series A
("TECONS") issued by Owens & Minor Trust I, a business trust owned by the
Company. As of August 4, 2003, there was an aggregate of 2,087,306 TECONS outstanding (or $104,365,300 aggregate liquidation amount). All of the outstanding TECONS will be redeemed on September 4, 2003 at a redemption price of 102.0156% of the liquidation amount (or $51.01 per $50 TECONS)thereof, plus accumulated and unpaid distributions to September 4, 2003. The TECONS called for redemption are convertible into Owens & Minor's common shares at any time prior to the close of business on September 3, 2003 at the conversion rate of 2.4242 common shares for each TECONS (Equal to a conversion price of $20.625 per common share).
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