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McKesson Corporation Raises Takeover Bid For Germany's Celesio AG


1/9/2014 7:37:47 AM

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U.S. drugs wholesaler McKesson raised its offer for German peer Celesio on Thursday, persuading a hedge fund that had been blocking the multi-billion dollar deal to agree to sell some of its shares. McKesson said it raised its bid to 23.50 euros ($32) per Celesio share from the 23 euros it offered in October, in what could be Germany's largest healthcare takeover in eight years. The U.S. company is seeking to forge a global leader in drugs distribution to boost its bargaining power with pharmaceutical majors, a common strategy in the industry.

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