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McKesson investment in FoxMeyer would total $400 mil.; agreement awaits FTC approval.

This article was originally published in The Rose Sheet

Executive Summary

McKESSON $80 MIL. FOXMEYER OFFER EARMARKED FOR TRADE DEBT, CREDITOR CLAIMS related to FoxMeyer's Chapter 11 bankruptcy filing, the wholesalers said Oct. 4. FoxMeyer and McKesson have reached a definitive agreement for McKesson to acquire the assets of FoxMeyer's distribution business. The two firms anticipate the sale will be completed in November. Until then, FoxMeyer will continue to operate its drug and H&BA distribution business. FoxMeyer filed for federal bankruptcy protection on Aug. 27.
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