McKesson Acquires FoxMeyer Distribution
US drugs and medical supplies distributor McKesson has agreed to acquire the drug distribution business of FoxMeyer Health Corp for $400 million. $80 million will be paid in cash. FoxMeyer Drug Co has filed for protection under the Chapter 11 US Bankruptcy code. On approval of a federal bankruptcy court, McKesson will pay an additional $30 million. McKesson will also assume FoxMeyer's debts, resulting in an additional investment of $290 million.
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