January 31, 2014

If you don't succeed the first time, try, try again. That's exactly what McKesson did when it announced that it reached an agreement with Franz Haniel & Cie. GmbH to acquire its entire holding of Celesio shares. And in a separate and subsequent agreement, McKesson also picked up the Celesio convertible bonds from Elliott.

Nothing good is ever easy. "While the path to securing this acquisition was certainly not what we had originally expected, it would seem that the interested parties to this transaction continued to see the compelling strategic benefit of McKesson and Celesio uniting to form a global leader in health care services," John Hammergren, McKesson chairman, CEO and president, said of the deal. "I never lost sight of the value this transaction will bring to our customers, our supply chain partners, the employees of both organizations and our shareholders."

January 24, 2014

McKesson announced that it has reached an agreement with Franz Haniel & Cie. GmbH to acquire its entire holding of Celesio shares for 23.50 euros per share (US $32.24 per share).

January 9, 2014

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.