- "We believe the most likely way this happens is for McKesson (MCK) and Elliott (or their intermediaries) to find a common ground whereby MCK raises its bid subject to Elliott agreeing to tender all of its holdings," Deutsche's George Hill says, referencing MCK's offer for Celesio.
- Hill thinks that after the "tough talk" is over and the deal is done, the potentially sweetened bid "could shave $0.15-0.20 off of MCK's fully consolidated near-term deal accretion estimates of $1.00-1.25."
- "MCK shares likely have 10% downside risk if the deal breaks to $140-145 per share," Hill adds.
- For more, see here.
Deutsche sees possible downside for McKesson amid Celesio drama
Dec 25 2013, 13:30 ET