Deals
McKesson Rises to Highest Value Ever on Celesio Deal
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McKesson Corp., the largest U.S. pharmaceutical distributor, rose to its highest value ever after agreeing to buy Germany’s Celesio AG for about 3.9 billion euros ($5.4 billion) to boost its share of the growing global generic-drug market.
McKesson gained nearly 5 percent after saying it will acquire the 50.01 percent stake held by Franz Haniel & Cie GmbH, a family-owned investment company, for 23 euros a share, and begin a tender offer to buy the remaining publicly traded shares at the same price. Including assumed debt, the purchase is valued at about 6.1 billion euros, the companies said in a statement today.