Celesio says recommends offer from McKesson
FRANKFURT (Reuters) - German drugs wholesaler Celesio (CLSGn.DE) said its supervisory and management board recommended shareholders accept the $8.3 billion takeover offer from McKesson Corp. (MCK.N) and viewed the price as fair, a day after a shareholder called for a higher offer.
Hedge fund Elliott international, which has built up a stake of over 20 percent in recent weeks, had on Tuesday pressed for a higher offer than the 23 euros ($31.72) per share being offered by the U.S. company.
Celesio said in a statement on Wednesday that after having considered various options, its boards viewed a takeover by McKesson as the right strategic decision.
"A merger with McKesson is the most attractive option for Celesio," the company said.
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