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European Stocks Edge Higher Ahead of ECB Meeting as McKesson Snares Celesio

Laura Board
1/09/14 7:40 AM EST
European Central Bank policymakers left euro-zone interest rates unchanged at 0.25%, San Francisco's McKesson announces an eleventh-hour, and marginal, increase to its $8 billion-plus bid for drugs wholesaler Celesio. The move wins over hedge fund Elliott Management Corp., a near-25% Celesio shareholder, while conglomerate Haniel has already agreed to tender its 50% stake to the offer, which expires today. Elsewhere, Finnish engineering company Wartsila enters the takeover spotlight . The company and British suitor Rolls-Royce say they held discussions that led nowhere about a takeover, propelling the would-be target higher in Helsinki trading. TheDeal's Laura Board reports from London.

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