McKesson Corporation 8-K

Summary

Proposed acquisition of Option Care Health by CD&R and McKesson. CD&R will hold a majority stake and McKesson a minority stake; Option Care Health will remain separately managed and become private. The investment fits McKesson’s stated focus on expanding access to specialty therapies in community care settings.

Key Figures

• Purchase price: $32.05 per share, representing an ≈37% premium to Option Care Health’s 10/05/2026 closing share price; total enterprise value ≈$5.8B.
• Ownership at closing: CD&R ≈51%; McKesson ≈49%. McKesson will invest ≈$1.4B and expects to use the equity method of accounting for its stake.
• McKesson and CD&R established a framework for McKesson to acquire CD&R’s interest in the future, subject to specified conditions and regulatory approvals.
• Closing is expected in H1 2027, subject to customary conditions, including Option Care Health stockholder and regulatory approvals. On completion, its shares will be delisted from Nasdaq.

Guidance

Guidance withdrawn or suspended: “withdrawing its previously disclosed financial guidance.”

Investor Takeaways

• Watch for Option Care Health stockholder and regulatory approvals and whether the deal closes in H1 2027.
• Option Care Health expects to release Q3 2026 results on 11/04/2026; it will not host a live conference call.