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McKesson Announces Agreement To Purchase Celesio To Create Leading Global Healthcare Services Platform

McKesson Corporation [NYSE: MCK] (“McKesson”), a leading North American healthcare services and information technology company, and Celesio AG [ISIN DE000CLS1001] (“Celesio”), a leading international wholesale and retail company and provider of logistics and services to the pharmaceutical and healthcare sectors, announced today that McKesson has signed an agreement to acquire a majority stake in Celesio for €23 per share and to launch parallel voluntary public tender offers for the remaining publicly-traded shares and outstanding convertible bonds of Celesio. The offer price of €23 per share represents a 39% premium over the three-month volume weighted average price prior to the market speculation that began on October 8, 2013. The total transaction, including the assumption of Celesio’s outstanding debt, is valued at approximately $8.3 billion(€6.1 billion)*.

McKesson and Celesio will combine to form a global leader in healthcare services with deep expertise in delivering solutions to pharmacies, manufacturers, patients and other customers. The transaction brings together the strength of two leaders with complementary geographic footprints, shared values and a heritage of trusted healthcare services – through pharmaceutical wholesaling, community pharmacy care and information technology – dating back approximately 180 years.

The combined company will be one of the largest pharmaceutical wholesalers and providers of logistics and services in the healthcare sector worldwide and expects to deliver:

  • Exceptional value to customers through increased supply chain efficiency and enhanced global sourcing;
  • Global distribution and logistics capabilities that bring new value and services to manufacturing partners;
  • A broad array of innovative technology and business services; and
  • Operating best practices across an extensive distribution network on three continents.

For more information on the transaction, visit www.GlobalHealthcareLeader.com.

“The combination of McKesson and Celesio will create a leading global healthcare services platform that will advance our customers’ ability to deliver better, more efficient healthcare solutions,” said John H. Hammergren, chairman and chief executive officer, McKesson Corporation. “The healthcare industry is evolving rapidly, marked by convergence between segments and increased globalization. With today’s announcement, we will bring together the strengths and expertise of each company to address global healthcare challenges.”

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