Seeking Alpha

McKesson finally seals deal to acquire Celesio

  • 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.
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