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European Stocks Edge Higher Ahead of ECB Meeting as McKesson Snares Celesio

August 29, 2023
in Trade Tube
Reading Time: 1 min read
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As European Central Bank policymakers meet to set euro-zone interest rates, San Francisco¿s McKesson announces an eleventh-hour, and marginal, increase to its $8 billion-plus bid for drugs wholesaler Celesio. The move wins over hedge fund Elliott Management Corp., a near-25% Celesio shareholder, while conglomerate Haniel has already agreed to tender its 50.1% stake to the offer, which expires today. Elsewhere, Finnish engineering company Wartsila also enters the takeover spotlight . The company and British suitor Rolls-Royce plc say they held discussions that led nowhere about a takeover, propelling the would-be target higher in Helsinki trading. Laura Board reports from London.

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