Monday, 4 May 2015
Last updated 7 min ago
Jan 9 2014 | 12:59pm ET
As far as Elliott Management is concerned, McKesson Corp.'s "best and final" offer for rival pharmaceutical distributor Celesio is good enough.
Elliott said today that it would accept McKesson's higher tender offer, all-but ensuring the deal's success. The New York-based hedge fund had vowed to block the original US$8.3 billion deal, saying it "substantially" undervalued Celesio—and owned enough shares to do so.
With a midnight deadline looming for the tender offer tonight, McKesson has been scrambling to placate Elliott. The company elected to increase its offer by a little more than 2%, or €0.50 per share.
Elliott, which had suggested splitting Celesio if the McKesson deal failed, said it had also agreed to sell its Celesio convertible bonds.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…