Deal complete, McKesson owns more than 75% of Celesio

SAN FRANCISCO — McKesson on Thursday confirmed that it has completed the previously announced agreement with Franz Haniel & Cie. GmbH to acquire their entire holding of Celesio shares. McKesson also confirmed it has completed the previously announced agreement with an affiliate of Elliott Management to acquire Celesio convertible bonds.  

McKesson now exceeds 75% ownership of Celesio shares on a fully diluted basis.

The deal places McKesson on par with its competitors in terms of generic sourcing. The McKesson-Celesio deal is expected to generate a combined generic purchasing power of between $9.5 billion and $11.5 billion, according to an analysis by FBR Capital Markets. A similar analysis of the respective purchasing power of CVS Caremark and Cardinal Health has their combined purchasing power coming in between $9.5 billion and $11.5 billion. According to FBR, the Walgreens-Amerisource-Bergen-ABC Consortium has about $12 billion in combined generic purchasing power.