Celesio takeover by McKesson secured through new agreements

Celesio is to be acquired by McKesson as previously planned after the US company was able to agree the necessary deals with Celesio shareholders.

The takeover of Celesio – the parent company of some of the UK's biggest pharmacy brands – was originally announced in October 2013, but looked to have been derailed earlier this month after McKesson was unable to secure more than 75 percent ownership of the firm.

However, it has since been able to reach agreements to purchase the shares belonging to Franz Haniel & Cie and convertible bonds from Elliott, thus pushing it past the 75 percent threshold required to close the deal.

The merger is now expected to close within the coming week, creating one of the largest pharmaceutical wholesalers and providers of healthcare logistics and services in the world.

John Hammergren, chairman and chief executive officer of McKesson, said: "Our customers will benefit from the increased scale, supply chain expertise and sourcing capabilities of the combined company, together with enhanced access to innovative technology and business services."

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