McKesson (MCK) Gets Early HSR Act Termination in PSS (PSSI) Merger
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PSS World Medical, Inc. (Nasdaq: PSSI) shares are ticking higher in early trading Wednesday following a release that McKesson (NYSE: MCK) received early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in its proposed merger with PSS.
The full release is below:
McKesson Corporation, a leading healthcare services and information technology company, announced today that it has received notification of early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, in connection with the proposed acquisition of PSS World Medical, Inc. The termination of this waiting period satisfies one of the conditions for McKesson’s proposed acquisition of PSS World Medical.
The transaction remains subject to other customary closing conditions, including approval by the shareholders of PSS World Medical. Subject to satisfaction of these other closing conditions, the acquisition is expected to close in the first calendar quarter of 2013.
As previously announced on October 25, 2012, McKesson and PSS World Medical have signed a definitive agreement under which McKesson will acquire all outstanding shares of PSS World Medical for $29.00 per share in cash.
The full release is below:
McKesson Corporation, a leading healthcare services and information technology company, announced today that it has received notification of early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, in connection with the proposed acquisition of PSS World Medical, Inc. The termination of this waiting period satisfies one of the conditions for McKesson’s proposed acquisition of PSS World Medical.
The transaction remains subject to other customary closing conditions, including approval by the shareholders of PSS World Medical. Subject to satisfaction of these other closing conditions, the acquisition is expected to close in the first calendar quarter of 2013.
As previously announced on October 25, 2012, McKesson and PSS World Medical have signed a definitive agreement under which McKesson will acquire all outstanding shares of PSS World Medical for $29.00 per share in cash.
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