01 October 2015
We advised McKesson Corporation on its acquisition of the pharmaceutical distribution business of Irish FTSE 250 company, UDG Healthcare plc.
McKesson acquired UDG’s Irish and Northern Irish distribution businesses together with TCP, an Irish homecare provider and MASTA, UDG's travel healthcare business based in the UK. Over 1000 employees will join McKesson as part of the acquisition.
The €408m cash acquisition was subject to UDG shareholder approval and EU Competition clearance.
Our Head of Corporate, David O’Donnell said: "We are delighted to be acting for McKesson on this major transaction which is one of the most important in the Irish market in 2015. In the last few months we have acted on the takeovers of Dragon Oil and Aer Lingus and the IPO of Cairn Homes as well as acquisitions for large international clients such as Markit. As this deal underlines, Mason Hayes & Curran continue to be mandated on the largest corporate deals in Ireland."
San Francisco headquartered McKesson, currently ranked 11th on the FORTUNE 500, is North America’s largest pharmaceutical distributor. Carson McDowell and DLA Piper are advising McKesson on Northern Irish and English law.