Hedge fund Elliott wants McKesson to sweeten Celesio bid

FRANKFURT Tue Dec 10, 2013 8:17am EST

FRANKFURT Dec 10 (Reuters) - Hedge fund Elliott International is pushing U.S. drugs wholesale group McKesson to hike its $8.3 billion offer for German peer Celesio .

"We do not intend to tender unless McKesson offers fair compensation to all Celesio shareholders and bondholders", Elliott said in a statement on Tuesday.

A source told Reuters earlier on Tuesday that Elliott planned to decline McKesson's offer as it undervalued the target.

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