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Stock Market & Financial Investment News

News Breaks
May 21, 2014
11:40 EDTMCKMagnetar Capital sues McKesson unit over Celesio deal, NY Times says
A subsidiary of the McKesson Corporation is being sued by the hedge fund Magnetar Capital in connection with its acquisition of the German drug wholesaler Celesio, says the New York Times. Magnetar Capital alleges that McKesson violated German takeover law by paying more to some holders of Celesio’s convertible bonds than it did to shareholders, added the New York Times. Reference Link
News For MCK From The Last 14 Days
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May 29, 2015
09:49 EDTMCKMcKesson completes acquisition of Drogheria & Alimentari for approx. $79M
McCormick & Company announced that it has completed the purchase of 100% of the shares of Drogheria & Alimentari, a privately held company based in Italy. McCormick announced the agreement to acquire D&A on February 20. Subject to certain closing adjustments, McCormick expects to record a purchase price for D&A of EUR72M, or approximately $79M. This expected purchase price consists of a EUR50M cash payment that was funded with cash and debt, and a potential earn-out payment of up to EUR35M that has a preliminary acquisition-date fair value of EUR22M. The potential earn-out payment is payable to D&A's former owners in 2018 upon the achievement of specified financial performance by D&A. Once the preliminary acquisition-date fair value of the potential earn-out payment is finalized, changes in the fair value will be recognized in income on an on-going basis until settlement in 2018. Due to the estimated impact of transaction and integration costs, McCormick expects no earnings per share impact in 2015. In 2016, McCormick expects the acquisition to be fully accretive, excluding any net increase in fair value of the potential earn-out payment.
09:42 EDTMCKMcKesson management to meet with UBS
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09:16 EDTMCKBofA/Merrill healthcare tech analyst holds analyst/industry conference call
Analyst Willoughby discusses relevant themes across the Healthcare Distribution & Technology subsectors on an Analyst/Industry conference call to be held on June 1 at 11 am.
May 28, 2015
10:16 EDTMCKMcKesson management to meet with Deutsche Bank
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May 27, 2015
10:58 EDTMCKMcKesson management to meet with UBS
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May 15, 2015
12:13 EDTMCKThird Point gives quarterly update on stakes
NEW STAKES: Yum! Brands (YUM), NXP Semiconductors (NXPI), FedEx (FDX), McKesson (MCK), and J M Smucker (SJM). INCREASED STAKES: Actavis (ACT), Roper Technologies (ROP), Delta Air Lines (DAL), and FleetCor Technologies (FLT). DECREASED STAKES: Ally Financial (ALLY), Amgen (AMGN), Phillips 66 (PSX), eBay (EBAY), and Anheuser Busch Inbev SA (BUD). LIQUIDATED STAKES: Alibaba Group (BABA), Citigroup (C), EMC Corporation (EMC), Anglo American (AAL), and Williams Companies (WMB).
12:07 EDTMCKThird Point reports new stakes in Yum! Brands, FedEx, McKesson

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