U.S. drug retailer McKesson seeks buyers for Canada’s Rexall Pharmacy: source ...Middle East

McKesson Corp. is planning to sell Canadian drugstore chain Rexall Pharmacy Group, a source familiar with the process told Reuters on Friday, seven years after the U.S. drug distributor bought the business for about $3 billion (US$2.2 billion). Texas-headquartered McKesson has mandated CIBC as a sellside financial advisor, according to the source. A spokesperson for CIBC declined to comment. McKesson bought the business in 2016 from Katz Group to strengthen its position in Canada’s pharmaceutical supply chain. Rexall operates 400 pharmacies across Canada and employs 8,000 people, according to its website. It also has a pharmaceutical distribution arm. Rival Shoppers Drug Mart c

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