McKesson pens $8.3B deal to control German drug wholesaler

In an $8.3 billion deal, San Francisco-based health care services firm McKesson Corp. (NYSE: MCK) will acquire a 50.01 percent controlling stake in German drug wholesaler Celesio.

The New York Times reports the deal would create one of the world’s largest pharmaceutical wholesalers and providers of logistics and services in the health care sector, with annual revenue of more than $150 billion and about 81,500 employees worldwide. The combined company would operate in 20 countries.

MCK shares soared on news of the deal, reaching $155 for its highest intraday value since shares began trading in August 1994. The stock had gained 60 percent during the past 12 months.

If given the regulatory go-ahead by German financial authorities and regulators in Austria, Ireland and Slovenia, McKesson expects to assume operations during its fiscal 2015, which begins in April.

Read more from the New York Times.