McKesson said close to $7.6B bid for Celesio

The largest U.S. drugs wholesaler San Francisco-based McKesson is reportedly nearing a bid to take majority control of its German rival Celesio in a deal that values the German company at $7.6 billion. McKesson is said to be planing to buy the 50.01% stake in Celesio held by Franz Haniel, a German family holding company. The acquisition would give McKesson global reach and strengthen its position against Alliance Boots and Walgreens, which combined last year and have since been expanding gloablly. Shares in Celesio rose by as much as 5% on the report, taking their gain to more than 35% since speculation started in June that Haniel was looking to sell its stake.