McKesson plans to buy PSS World Medical for $1.62 billion

McKesson Corp. agreed to acquire PSS World Medical Inc. for about $1.62 billion to expand in medical supplies and services. The offer by McKesson is 34% more than PSS World's closing share price yesterday. The deal includes the assumption of about $480 million of PSS World's debt, bringing its total value to $2.1 billion. McKesson will acquire PSS World's distribution of medical products and gain the company's $2.1 billion in annual sales.