McKesson signed an agreement Thursday with German company Haniel to acquire its 50.01 stake in Celesio and is making an offer to other shareholders at 23 euros ($31.71) a share. The offer represents a 5.8% premium to Celesio's closing share price on Wednesday.
McKesson launches $8.3 billion bid for Germany's Celesio
San Francisco-based McKesson is also assuming Celesio's outstanding debt, lifting the value of the deal up to $8.3 billion. Celesio's management has welcomed the offer.
McKesson supplies medicines to half of U.S. hospitals, as well as doctors and health plans. It has more than 37,000 employees and reported revenue of $122.7 billion last year.
Stuttgart-based Celesio has about 38,000 employees, operates in 14 countries, runs 2,200 pharmacies and posted revenue of about $29.5 billion in 2012.
The two companies plan to maintain their own brands after the deal is completed, McKesson said.
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