Investor Elliott formally rebuffs McKesson's Celesio bid
FRANKFURT Dec 23 (Reuters) - Hedge fund Elliott International confirmed formally that it would not accept U.S. wholesale drugs group McKesson's offer for Germany's Celesio unless the terms are improved.
Elliott, run by U.S. investor Paul E. Singer, has spent roughly 800 million euros ($1.09 billion) building a stake of more than 20 percent in Celesio over recent weeks and is now in a position where it can block the takeover. ($1 = 0.7315 euros) (Reporting by Christoph Steitz; editing by Tom Pfeiffer)
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