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STOCKS NEWS EUROPE-Celesio seen down as McKesson bid fails

Reuters - UK Focus

Shares in German drug distributor Celesio (Other OTC: CAKFF - news) are indicated 10.2 percent lower in pre-market trade, the worst performers on Germany's mid-cap MDAX index, as U.S. suitor McKesson (Frankfurt: MCK.F - news) says it failed to secure enough support for a planned $8.4 billion takeover of the firm.

"This result comes as somewhat of a surprise given that Celesio's two largest shareholders, Haniel and Elliott, both agreed to tender to last Thursday's sweetened 23.50 euro (per share) offer," Berenberg analysts write in a note.

Since the beginning of last year, shares in Celesio have gained more than 85 percent, boosted by prospects a takeover by McKesson, a drugs wholesaler group.

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Reuters messaging rm://christoph.steitz.thomsonreuters.com@reuters.net