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McKesson ends bid for Uniprix

MONTREAL – McKesson Canada has withdrawn its offer to buy Uniprix Inc. after the pharmacy owners that control Uniprix failed to tender enough shares to complete the deal.

McKesson Canada executives say the failure to complete the acquisition would not affect the companies’ relationship.

“Despite withdrawing the offer, McKesson Canada will continue to support the independent pharmacy business model,” said Domenic Pilla, president of McKesson Canada. “Our desire to help the Uniprix Group succeed and to see further growth among its banners remains strong.”

Competition among franchisers in Quebec has heated up in recent months, and many believe that McKesson’s primary reason for trying to buy Uniprix was to get the right of first refusal to purchase Uniprix pharmacy units when the pharmacist owners want to retire or dispose of their businesses.