Celesio to be purchased by McKesson

Celesio, the parent company of some of the UK's biggest pharmacy brands, is to be acquired by US company McKesson in a multi-billion-dollar deal.

The transaction will see McKesson acquire a majority stake in Celesio and launch parallel voluntary public tender offers for its remaining publicly-traded shares and outstanding convertible bonds, with the overall deal being worth around $8.3 billion (5.16 billion pounds).

McKesson and Celesio will then combine to form one of the largest pharmaceutical wholesalers and providers of healthcare logistics and services in the world, with annual revenues in excess of $150 billion.

Both companies expect to maintain their own brands and continue to support customers through existing channels following the merger.

Marion Helmes, chief financial officer of Celesio, said: "This combination allows two market leaders with complementary geographic footprints to work together in an increasingly global market segment."

Celesio is responsible for operating the Lloydspharmacy, AAH Pharmaceuticals and Evolution Homecare Services brands in the UK.