$MCK · MCKESSON CORP

McKesson Corporation, alongside private equity firm Clayton, Dubilier & Rice, announced a definitive agreement to acquire Option Care Health (Nasdaq: OPCH) for $32.05 per share in cash, representing a total enterprise value of approximately $5.8 billion. CD&R will hold a ~51% majority stake and McKesson will invest approximately $1.4 billion for a ~49% minority interest. The deal includes a framework for McKesson's future acquisition of CD&R's interest, subject to conditions and regulatory approvals.

Markets closed — no regular-session reaction yet; extended-hours move not captured here. MCK at $915.45 pre-market, with the $1.4 billion investment representing a modest capital allocation relative to its $107.18 billion market cap.

McKesson is deploying ~$1.4 billion into the largest independent home-infusion provider, signaling a strategic bet on the shift of complex specialty therapies to lower-cost community settings.

The deal extends McKesson's push into specialty infusion and community-based care delivery, mirroring the broader healthcare services trend of shifting complex therapies from hospital to lower-cost home settings.

Transaction may not close if stockholder or regulatory approvals are not obtained; Option Care Health withdrew its 2026 guidance, creating near-term visibility risk. McKesson may record impairment charges on its minority investment.