3:40 PM Frankfurt – McKesson agreed to acquire Celesio after a deal revision. Greggs said total sales in the third quarter grew 3.6%. Henry Boot expects revenues for the year were about £150 million. Royal Mail group comparable sales rose 2%.
In London trading, FTSE 100 index slipped 1% or 70.82 to 6,702.46 and in Frankfurt the DAX index declined 1.7% or 163.64 to 9,467.40.
In Paris, CAC 40 index dropped 1.6% or 68.64 to 4,212.32.
climbed 4.1% to €25 after the Germany-based pharmaceutical distribution said U.S.-based McKesson Corporation consummated the takeover deal after it revised its offer.
McKesson agreed to acquire Franz Haniel & Cie GmbH’s holding, a majority owner in Celesio for €23.50 a share same as its previous offer. The company plans to pay a portion of the offer with cash and the balance with a bridge loan.
McKesson also acquired convertible bonds of Celesio from Elliott Management that increased its stake to 75%.
McKesson offered on Oct 24 to acquire 50.01% stake controlled by Haniel for 23 euros and later revised on Jan 9 to 23.50 a share.
Elliot Management built up a stake in the company through its convertible bond offering and demanded higher price for the company.
gained 0.4% to 508.85 pence after the U.K.-based bakery chain said total sales in the third quarter increased 3.6% but comparable sales fell 0.5%.
Henry Boot Plc
rose 0.2% to 227.50 pence after the U.K.-based construction company said revenues for the year ending in December were approximately £150 million and estimated group pre-tax profit to increase larger-than-expected 10%.
slipped 1.4% to 72.65 francs after the Switzerland-based healthcare solution provider’s offer to replenish its products suffered setback from European advisory panel for its Serelaxin treatment for acute heart failure.
Royal Mail Plc
slid 1.9% to 572.50 pence after the U.K.-based postal and delivery service provider said comparable sales for the nine-month period ending in September grew 2%. Parcel deliveries accounted for 51%.
Royal Mail said revenue from UK parcel delivery in the period jumped 8% and volumes were flat. UK comparable letter revenues fell 3%.
Royal Mail was privatized in October 2013.
fell 0.9% to €33.28 after the Netherlands-based cable operator said earnings forecast for 2014 was unchanged and revenues are expected to grow in-line with market expectations.