News

McKesson increases offer price for Celesio

BY Antoinette Alexander

SAN FRANCISCO and FRANKFURT, Germany — McKesson Corp. has reached an agreement with Franz Haniel & Cie. GmbH, currently representing a 50.01% stake in Celesio, to sweeten the purchase price for its shareholding in Celesio to EUR 23.50 per share.

Accordingly, the price McKesson is offering to all shareholders of Celesio by way of a voluntary public takeover offer increases to EUR 23.50 per share.

McKesson also announced that it has increased the consideration offered under its tender offers for the outstanding convertible bonds of Celesio Finance B.V. to a price equating to a look-through price of EUR 23.50 per underlying Celesio share.

Furthermore, McKesson has reached an agreement with Elliot to acquire their Celesio convertible bonds. The closing of the acquisition of the Celesio convertible bonds from Elliott is subject to the completion of the takeover offer and tender offers.

 

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon's entry would shake up the most?
News

Bloomberg: Novartis, Merck mulling $5B swap

BY Antoinette Alexander

NEW YORK — Novartis AG is reportedly in talks with Merck to swap its animal health and vaccines businesses for Merck’s OTC business, which includes the Coppertone sunscreen and Claritin allergy medicine brands, according to a Bloomberg report.

People familiar with the matter told Bloomberg that the two drugmakers could each trade about $5 billion in assets. The deal, however, hasn’t been finalized, and Novartis may choose another option.

The swap would make strategic sense for the companie,s as Merck’s OTC business would complement such Novartis consumer items as Lamisil anti-fungal treatment and Triaminic cold medicine. Sources told Bloomberg that Novartis would rather trade the veterinary unit and invest in an area in which it is already a leader.

 

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon's entry would shake up the most?
News

Costco’s sales, comps increase in December

BY Alaric DeArment

ISSAQUAH, Wash. – Costco Wholesale Corp.’s sales increased by 6% in the month of December and the first few days of January compared with December 2012, the club retailer said Thursday.

The Issaquah, Wash.-based company reported sales of $11.53 billion during the five weeks that ended Sunday, compared with $10.87 billion during the same period last year. Comps increased by 5% at the company’s U.S. stores.

For the 18 weeks that ended Sunday, sales were $38.33 billion, a 6% increase over the $36.26 billion in sales the company had the year before. Comps in the United States increased by 4%.

 

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon's entry would shake up the most?