Simpson Thacher Aids McKesson In $2.1B Medical Supplier Buy

Law360, New York (October 25, 2012, 11:52 AM EDT) -- Medical services company McKesson Corp. will swallow up medical products distributor PSS World Medical Inc., the companies said Thursday, in a deal worth $2.1 billion that will beef up its surgical supply business.

Under the transaction's terms, San Francisco-headquartered McKesson will offer Jacksonville, Fla.-based PSS investors $29 per share in cash, a 34 percent premium over Wednesday's close. The cash consideration covers about $1.46 billion of the total purchase price, with the rest coming as assumed debt. The sale is subject to approval from PSS shareholders...
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