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McKesson interest in Celesio causes drug wholesaler's shares to rise

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October 8
10:25 PM 2013

After a report that the McKesson Corp was in discussions with Celesio AG majority shareholder Franz Haniel & Cie GmbH as to a possible buyout, share values of the German drug wholesaler rose to their highest in seventeen years.

Celesio's share values increased by 20% to EUR20.49, the largest one day rise since 1996.  McKesson for its part increased by 3.2% to USD133.72 per share in New York. This is the highest value its shares had been priced since it started trading in 1994. 

McKesson had accessed to Celesio's financial records and the valuation may be pegged at around EUR22 per share. This includes a 29% premium to the closing price of the pharmaceutical firm's shares as of yesterday according to a report from Dow Jones. The report further said that McKesson may formally announce the bid for Celesio as early as the end of October.

Spokespersons for both Celesio and Haniel declined to make a comment on the matter. McKesson for its part, did not provide a response to an email and phone calls requesting comment on the matter.

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