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McKesson-Celesio Deal ’Important Strategic Transaction’: ISI 2014-01-23 21:42:12.100 GMT
By Rachel Layne Jan. 23 (Bloomberg) -- McKesson shares should rise to “pre-deal break levels,” near $180 given expected $1-$1.20/shr Celesio will add to adj. EPS in first 12 mos., ISI Group’s Ross J. Muken writes in note. * Deal “important strategic transaction” for MCK given geographic reach, generic purchasing scale * MCK to make bond purchase agreement with Elliott Associates for EU350 million of Celesio bonds to meet tender threshold * NOTE: Earlier, MCK to buy most of Celesio for EU23.50 per shr under new agreement w/ Franz Haniel & Cie to buy conv bonds held by Elliott Mgmt; sees deals closing within 10 business days
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--Editor: Joanna Ossinger
To contact the reporter on this story: Rachel Layne in Boston at +1-617-210-4634 or rlayne@bloomberg.net
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