McKesson (MCK) has agreed to acquire a 50.01% stake in German peer Celesio from diversified holding company Franz Haniel & Cie. The U.S. pharmaceuticals distributor will also launch an offer for Celesio's remaining traded shares and convertible bonds, with the whole deal valued at $8.3B. Celesio has welcomed the offer.
McKesson is offering €23 a share for Celesio in a bid that represents a 43% premium over the latter's stock price in June, when speculation started that Franz Haniel might sell its stake.
McKesson said the transaction will help improve its supply chain efficiency; the deal could also strengthen the company's purchasing power, especially with generic drug makers. (PR)