DBRS puts McKesson on negative review

DBRS said it placed the ratings of McKesson Corp.'s under review with negative implications following news that the company signed an agreement to acquire a majority stake in Celesio AG.

McKesson also will launch a parallel voluntary public tender offer for the remaining publicly traded shares and outstanding convertible bonds, DBRS said.

The negative review reflects the expected increase in financial leverage resulting from the acquisition, as well as the risks associated with McKesson's entry into new markets with different regulatory environments, the agency said.

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