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WSJ: McKesson preparing to acquire German drug distributor Celesio

BY Michael Johnsen

NEW YORK — McKesson appears ready to pull the trigger on an offer for German drug distributor Celesio, The Wall Street Journal reported Wednesday

Citing people familiar with the potential deal, McKesson is valuing Celesio at as much as $5.4 billion. 

The acquisition is expected to significantly expand McKesson’s economy of scale, according to the report. 

 

 

 

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Safeway, Sobeys to close deal on Safeway Canada next month following consent of Canada’s Competition Bureau

BY Michael Johnsen

PLEASANTON, Calif. — Safeway on Tuesday afternoon announced that Canada’s Competition Bureau has entered into a consent agreement with Sobeys, allowing the parties to proceed with their transaction whereby Sobeys will acquire the net assets of Canada Safeway.  

The parties now expect to close the transaction in early November 2013.

As part of the consent agreement, Sobeys has agreed to divest 23 stores — 13 Canada Safeway stores and 10 Sobeys stores.

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NRF: Retailers add more than 15,000 jobs in September

BY Marianne Wilson

WASHINGTON, D.C. — The National Retail Federation calculated retail industry job gains at 15,200 in September, and 289,000 jobs year-over-year, a 2.4% increase over the same month last year and 2% higher than total private sector jobs over the past year.

“The pace of growth in retail hires has slowed, similar to what the rest of the labor market is experiencing,” said NRF chief economist Jack Kleinhenz “Americans need to believe we are on a solid path out of this troubled economy and so far, they haven’t been given any reason to believe that, thus impacting their spending decisions and retailers’ ability to increase their payrolls.”

The Bureau of Labor Statistics employment report showed that the economy added 148,000 jobs in September, which lowered the unemployment rate to 7.2%.

 

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