McKesson to sell 28 stores to win Competition Bureau approval for Rexall deal

U.S. health-care company McKesson has agreed to sell 28 drugstores

OTTAWA — U.S. health-care company McKesson has agreed to sell 28 drugstores to win approval from the Competition Bureau for its deal to buy the Rexall Health pharmacy chain.

The Canadian regulator says the proposed $3-billion acquisition of Rexall would “likely result in a substantial lessening or prevention of competition” if it was allowed to go ahead as originally planned.

Under a consent agreement with the Competition Bureau, McKesson will also restrict the exchange of “commercially sensitive information” between its wholesale and Rexall retail business in order to preserve competition at the retail level.

The locations pegged for sale are located in small communities in Ontario, Alberta, Saskatchewan, B.C. and the Northwest Territories.

Last March, Calgary-based Katz Group announced that it was selling its 470 Rexall retail pharmacies to McKesson, a company it has worked closely with for 20 years.

In 2012, McKesson acquired Katz’s independent outlets and franchise businesses — primarily operating as I.D.A. and Guardian — for about $920 million. The San Francisco-based McKesson is the largest wholesaler of pharmaceutical products in Canada.

Just Posted

Break-in at Red Deer business

Social media reports confirm a business break and enter in Red Deer… Continue reading

‘Rough waters’: Spill raises new questions about fast-growing N.L. oil industry

ST. JOHN’S, N.L. — Newfoundland and Labrador’s ambitious plans to dramatically expand… Continue reading

Trudeau rules out snap election call, national ballot slated for Oct. 21

OTTAWA — Prime Minister Justin Trudeau says there will be no early… Continue reading

Canadian firm says it has found largest diamond ever unearthed in North America

YELLOWKNIFE — A Canadian mining firm says it has unearthed the largest… Continue reading

Man from Olds killed in collision near Sundre

A 39-year-old man from Olds was killed in a collision near Sundre… Continue reading

WATCH: More than 100 protest UN migration pact, carbon tax in Red Deer

Chants of “Trudeau must go” echoed through the streets of downtown Red… Continue reading

Man who demolished landmark house ordered to build replica

SAN FRANCISCO — A man who illegally demolished a San Francisco house… Continue reading

Giuliani: ‘Over my dead body’ will Mueller interview Trump

WASHINGTON — With a number of probes moving closer to the Oval… Continue reading

Quebecers criticize western oil but buying more gasoline, SUVs, bigger homes: report

MONTREAL — Quebec’s premier is quick to reject “dirty” oil from Western… Continue reading

Speaker Geoff Regan opens the door to his apartment in Parliament

OTTAWA — One of the best-kept secrets inside the main building on… Continue reading

Baloo the cat is back at home after being mistakenly shipped to Montreal

HALIFAX — Much to the relief of his loving family, Baloo the… Continue reading

‘It’s what we do’: Famous Newfoundlanders help replace veteran’s stolen guitar

ST. JOHN’S, N.L. — Two famous Newfoundlanders stepped in to help an… Continue reading

Quebec’s anti-corruption unit blames media coverage for recruiting troubles

MONTREAL — Seven years after it was created, Quebec’s anti-corruption unit is… Continue reading

Former PQ cabinet minister poised to become next Bloc Quebecois leader

MONTREAL — It appears likely that Yves-Francois Blanchet, a former Parti Quebecois… Continue reading

Most Read