McKesson Inks $8.3B Deal To Scoop Up German Peer Celesio

Law360, New York (October 24, 2013, 11:39 AM EDT) -- California drug distributor McKesson Corp. on Thursday outlined plans to absorb German peer Celesio AG in a deal worth €6.1 billion ($8.3 billion), including debt, that will spawn a streamlined global powerhouse with more pharmaceutical purchasing power.

Official word of the deal comes a day after media reports trickled out that McKesson has notched the support of Celesio's single-largest shareholder, the Franz Haniel & Cie GmbH holding company, which holds just more than 50 percent of the German company's stock. The buyer will take over Franz...
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