McKesson finally seals deal to acquire Celesio

|About: McKesson Corporation (MCK)|By:, SA News Editor

McKesson (MCK) reaches an agreement to buy Celesio (CAKFF) just 10 days after a failed tender offer for the rival company.

MCK acquires majority owner Franz Haniel & Cie's entire holding in Celesio for €23.50/share, the same price as its previous bid, and purchases Celesio convertible bonds from hedge fund Elliott Management; the moves provide MCK with more than 75% ownership of Celesio’s shares.

MCK has been seeking to expand, and Celesio has 132 wholesale branches supplying 65,000 pharmacies and hospitals across Europe.

MCK +2.9% AH.