Germany's Celesio Purchased by McKesson

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Germany's Celesio Purchased by McKesson Oct 25th 2013, 13:18 The purchase of German company Celesio has been announced by US pharmaceutical distributor McKesson. The deal is valued at more than $8 billion. The combined company "will be one of the largest pharmaceutical wholesalers and providers of logistics and services in the healthcare sector worldwide," the German firm said in a statement. The total transaction, including McKesson's takeover of Celesio's outstanding debt is valued at approximately $8.3 billion (6.3 billion euros, the statement added. Both firms will keep their own separate brands. The combined firm is expected to have annual revenue of more than $150 billion, employing some 81,500 people in 20 countries worldwide. Earlier in the month, shares in McKesson rose sharply after the Wall Street Journal reported news of the buy-out. Source-AFP

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