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McKesson Will Acquire Rexall Health From Katz Group For $3B

McKesson Corp announced yesterday it will acquire Rexall Health from Katz Group in a $3B deal that includes 470 pharmacies across Canada, reports the Financial Post. McKesson CEO John Hammergren said the acquisition will help his firm—Rexall’s longtime drug distributor, which acquired 1,000 I.D.A. and Guardian stores from Katz Group in 2012—leverage its existing portfolio to drive growth, particularly in Ontario and Western Canada. The deal, subject to Competition Bureau review, is set to close in late 2016. “This will be a space race between Shoppers Drug Mart and McKesson,” analyst Jim Danahy told the Financial Post. [FP]

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