McKesson Announces Early Termination of Hart-Scott-Rodino Act Waiting Period for Acquisition of PSS World Medical

Wed Dec 26, 2012 7:30am EST

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SAN FRANCISCO & JACKSONVILLE, Fla.--(Business Wire)--
McKesson Corporation (NYSE: MCK), a leading healthcare services and information
technology company, announced today that it has received notification of early
termination of the waiting period under the Hart-Scott-Rodino Antitrust
Improvements Act of 1976, as amended, in connection with the proposed
acquisition of PSS World Medical, Inc. (NASDAQ:PSSI). The termination of this
waiting period satisfies one of the conditions for McKesson`s proposed
acquisition of PSS World Medical. 

The transaction remains subject to other customary closing conditions, including
approval by the shareholders of PSS World Medical. Subject to satisfaction of
these other closing conditions, the acquisition is expected to close in the
first calendar quarter of 2013. 

As previously announced on October 25, 2012, McKesson and PSS World Medical have
signed a definitive agreement under which McKesson will acquire all outstanding
shares of PSS World Medical for $29.00 per share in cash. 

About McKesson

McKesson Corporation, currently ranked 14th on the FORTUNE 500, is a healthcare
services and information technology company dedicated to making the business of
healthcare run better. We partner with payers, hospitals, physician offices,
pharmacies, pharmaceutical companies and others across the spectrum of care to
build healthier organizations that deliver better care to patients in every
setting. McKesson helps its customers improve their financial, operational, and
clinical performance with solutions that include pharmaceutical and
medical-surgical supply management, healthcare information technology, and
business and clinical services. For more information, visit
http://www.mckesson.com. 

About PSS World Medical, Inc.

PSS World Medical, Inc. (Nasdaq:PSSI) markets and distributes medical products
and services to front-line caregivers throughout the United States. With 4,000
team members, PSS is a leader in the markets it serves with innovative
approaches to customer service and operational excellence. Its stated purpose is
to strengthen the clinical success and financial health of caregivers by solving
their biggest problems. The Company is focused to accelerate growth in four
markets - Physician, Laboratory, Dispensing, and Home Care & Hospice - with
products and solutions that deliver high quality, cost effective, and convenient
patient care. For more information on PSS, visit www.pssworldmedical.com. 

Risk Factors

This press release includes "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, as amended, that are subject to risks and uncertainties
and other factors. All statements other than statements of historical fact are
statements that could be deemed forward-looking statements, including statements
regarding the ability to complete the transaction considering the various
closing conditions; the expected benefits and costs of the transaction; any
projections of earnings, revenues or other financial items; any statements of
the plans, strategies and objectives of management for future operations; any
statements regarding product or service development, extensions or integration;
any statements of expectation or belief; any statements regarding general
industry conditions and competition; any statements regarding economic
conditions; and any statements of assumptions underlying any of the foregoing.
Risks, uncertainties and assumptions include risks related to the timing or
ultimate completion of the transaction, as the transaction is subject to certain
closing conditions, including receipt of all necessary regulatory clearances and
approval of PSS World Medical`s shareholders; the possibility that expected
benefits may not materialize as expected; McKesson`s ability to successfully
implement integration strategies; as well as the ability to ensure continued
performance or market growth of PSS World Medical`s products and services. These
risks, uncertainties and other factors, and the general risks associated with
the respective businesses of McKesson and PSS World Medical described in the
reports and other documents filed by each of them with the Securities and
Exchange Commission, could cause actual results to differ materially from those
referred to in the forward-looking statements. All forward-looking statements
are based on information currently available to McKesson and PSS World Medical
and are qualified in their entirety by this cautionary statement. Except as
required by law, neither McKesson nor PSS World Medical assumes any obligation
to update any such forward-looking statements or other statements included in
this press release. 

Additional Information and Where to Find It

In connection with the proposed acquisition, PSS World Medical plans to file a
definitive proxy statement with the SEC. INVESTORS AND SECURITY HOLDERS OF PSS
WORLD MEDICAL ARE ADVISED TO READ THE PROXY STATEMENT AND ANY OTHER RELEVANT
DOCUMENTS FILED WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THOSE DOCUMENTS
WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED ACQUISITION. The final
proxy statement will be mailed to shareholders of PSS World Medical. Investors
and security holders may obtain a free copy of the proxy statement when it
becomes available, and other documents filed by PSS World Medical with the SEC,
at the SEC`s web site at http://www.sec.gov. In addition, you may also obtain
McKesson`s filings with the SEC, free of charge, from McKesson`s website
(www.mckesson.com) under the tab "Investors" through the "SEC Filings" link and
you may obtain PSS World Medical`s filings with the SEC, free of charge, from
PSS World Medical`s website (www.pssworldmedical.com) under the tab "Investor
Relations" through the "SEC Filings" link. 

Participants in the Solicitation

McKesson, PSS World Medical and their respective directors, executive officers
and other members of their management and employees may be deemed to be
participants in the solicitation of proxies from PSS World Medical`s
shareholders in connection with the proposed transaction. Information regarding
McKesson`s directors and executive officers is available in McKesson`s proxy
statement for its 2012 annual meeting of stockholders, which was filed with the
SEC on June 15, 2012. Information regarding PSS World Medical`s directors and
executive officers is available in PSS World Medical`s proxy statement for its
2012 annual meeting of shareholders, which was filed with the SEC on July 6,
2012. Additional information regarding participants in the proxy solicitations
and a description of their direct and indirect interests will be included in the
proxy statement and the other relevant documents filed with the SEC when it
becomes available.

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McKesson Contacts:
Erin Lampert, 415-983-8391 (Investors and Financial Media)
Erin.Lampert@McKesson.com
Kris Fortner, 415-983-8352 (General and Business Media)
Kris.Fortner@McKesson.com
or
PSS World Medical Contact:
Jenny Kobin, 904-332-3287 (Investors and Media)
Investor-info@pssd.com



Copyright Business Wire 2012
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