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Haniel offers Elliott 23.50 eur/shr for Celesio stock-sources

Thursday, 23 Jan 2014 | 3:51 AM ET

FRANKFURT, Jan 23 (Reuters) - The majority shareholder behind German drugs distributor Celesio has offered 23.50 euros apiece for Celesio shares held by hedge fund Elliott, as part of a fresh attempt to secure the sale to U.S. drugs wholesaler group McKesson, three people familiar with the talks told Reuters.

While the sources said 23.50 euros per share is the price being negotiated by the two sides, it remains unclear how much Haniel is prepared to offer for the bonds that convert to Celesio shares held by Elliott.

It also remains uncertain whether Haniel is offering to buy the stake directly or only to act as an intermediary on behalf of McKesson.

Haniel, Elliott and Celesio declined to comment. A spokesman for McKesson was not immediately available to comment.

McKesson this month failed to reach the 75 percent threshold for acceptances which it had set as a condition for going ahead with its takeover offer for Celesio.

(Reporting by Matthias Inverardi, Ludwig Burger and Frank Siebelt)

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