Sunday, March 01, 2009

McKesson withdraws offer for Uniprix after pharmacists fail to approve deal

From the Brandon (MB) Sun:
The sale of Quebec's second-largest pharmacy was scuttled Friday after independent pharmacists who own Uniprix Inc. rejected an offer from medicine distributor McKesson Canada.

The company withdrew its offer after the number of shares tendered by the deadline Friday didn't meet the minimum conditions laid out in McKesson's Jan. 19 offer.

McKesson said it will continue to support the independent pharmacy business model despite withdrawing the offer.

"Our desire to help the Uniprix Group succeed and to see further growth among its banners remains strong, and we wish to pursue our longstanding business relationship," stated McKesson Canada president Domenic Pilla. ...more

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