McKesson's (MCK -1.2%) Canadian subsidiary inks a deal to acquire Uniprix, a Montreal-based group of 330 independent pharmacies. A shareholder vote is scheduled for May 16 to bless the transaction. Financial terms are not disclosed.
Uniprix generates ~CAD$1.6B in annual sales.
McKesson expects the second time to be a charm. Uniprix pharmacists rejected an earlier bid made in 2009.
Evercore ISI likes the action. Earlier today, it reiterated its Outperform rating with a $166 (15% upside) price target.