24.10.2013 15:53:00

McKesson Corporation -- Moody's puts McKesson's ratings on review for downgrade on news of Celesio transaction

New York, October 24, 2013 -- Moody's Investors Service placed McKesson Corporation's Baa2 and Prime-2 ratings on review for downgrade following the company's announcement that it plans to acquire German drug wholesaler and operator of retail pharmacies, Celesio AG, for $8.3 billion, including the assumption of Celesio's outstanding debt. Celesio is 50% owned by Franz Haniel & Cie. GmbH (Ba1, stable). The transaction is subject to regulatory approvals and is contingent upon acceptance of a tender offer for at least 75% of total shares.

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