McKesson Corp. is following through on its plan to buy the rest of Celesio AG, the Germany-based pharmaceutical distributor it acquired in late January.


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McKesson begins offer for remaining shares of Celesio

March 3rd, 2014

SAN FRANCISCO – McKesson Corp. is following through on its plan to buy the rest of Celesio AG, the Germany-based pharmaceutical distributor it acquired in late January.

McKesson said Friday it has commenced a voluntary takeover offer for the remaining outstanding shares of Celesio. The offer is being made through McKesson's indirect subsidiary Dragonfly GmbH & Co. KGaA.

In announcing the Celesio acquisition agreement, the McKesson said it would launch voluntary tender offer to the remaining minority holders of Celesio common shares. The U.S. drug distributor currently owns more than 75% of Celesio shares on a fully diluted basis.

The offer of 23.50 euros per share is the same as the bid that led to the acquisition deal. The initial acceptance period is slated end on April 2 and will be followed by a two-week acceptance period after the publication of the results of takeover offer, according to McKesson.

McKesson's acquisition of Celesio brings together the largest U.S. pharmaceutical distributor with one of the world's largest wholesalers and providers of logistics and services to the pharmaceutical and health care sectors.

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