McKesson, PSS Deal Continues Medical Consolidation
The drug wholesaler McKesson (MCK) is buying medical products distributor PSS World Medical (PSSI) for $1.46 billion, as the sector's mergers and consolidations continue. McKesson also reported better-than expected fiscal second-quarter earnings. Shares rose 4.1% to 93.20, hitting a three-month high. PSS shares surged 32% to 28.58 late in the session, just under the $29-per-share cash offer. "By preserving the strengths of both businesses, the
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