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McKesson Corporation, Elliott Said In Talks On Celesio AG Stalemate


1/8/2014 7:27:20 AM

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McKesson Corp. (MCK) and hedge fund Elliott Management Corp. are discussing options including a possible increase in McKesson’s offer for drug distributor Celesio AG to break a stalemate on the deal, three people familiar with the matter said. No final decision has been made and the talks may not lead to an agreement on the 3.9 billion-euro ($5.3 billion) offer, though, said the people, who asked not to be identified because the process is confidential. McKesson, based in San Francisco, said Oct. 24 it agreed to buy the 50.01 percent stake in Celesio held by Franz Haniel & Cie GmbH, a family-owned investment company, for 23 euros a share, and begin a tender offer for the remaining publicly traded shares at the same price.

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