McKesson (MCK) Looks to Make Concessions in $8.3B Celesio Bid
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Price: $921.78 +1.66%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.4%
EPS Growth %: +8.7%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 0.4%
EPS Growth %: +8.7%
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McKesson (NYSE: MCK) may make concessions in order to save its $8.3 billion acquisition of Celesio.
Reuters reported Wednesday that McKesson's move comes as hedge fund Elliott has rejected the bid.
It wasn't made clear what sort of solution McKesson might offer to appease Elliott.
Last October, McKesson offered €23 per Celesio share in a bid backed by the company's majority shareholder, Franz Haniel & Cie.
McKesson has set a deadline of Thursday night for tender of the Celesio shares.
Shares of McKesson are flat early Wednesday.
Reuters reported Wednesday that McKesson's move comes as hedge fund Elliott has rejected the bid.
It wasn't made clear what sort of solution McKesson might offer to appease Elliott.
Last October, McKesson offered €23 per Celesio share in a bid backed by the company's majority shareholder, Franz Haniel & Cie.
McKesson has set a deadline of Thursday night for tender of the Celesio shares.
Shares of McKesson are flat early Wednesday.
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