Document:

EX-10.1

 Exhibit 10.1 

Share Purchase Agreement 

by and among 
 Franz
Haniel & Cie. GmbH 
 as Seller, 

Dragonfly GmbH & Co. KGaA 

as Purchaser, 
 and 

McKesson Corporation 
 as
Parent, 
 dated October 24, 2013, 

regarding the sale and purchase of 85,058,505 no par value registered shares in 

Celesio AG 

 CONTENTS 
  

					
	 	  	Page	 
	 CONTENTS
	  	 	2	 
		
	 RECITALS
	  	 	4	 
		
	 Section 1 Sale and Purchase of the Seller’s Shares
	  	 	6	 
		
	 1.1    Agreement to Sell and Purchase
	  	 	6	 
		
	 1.2    Delivery of the Shares
	  	 	6	 
		
	 1.3    Rights and Obligations Pertaining to the Seller’s Shares
	  	 	6	 
		
	 Section 2 Voluntary Takeover and Acquisition Offers
	  	 	6	 
		
	 2.1    Offers for Celesio Shares and Convertible Bonds
	  	 	6	 
		
	 2.2    Offer Conditions
	  	 	7	 
		
	 2.3    Information
	  	 	7	 
		
	 Section 3 Consideration
	  	 	8	 
		
	 3.1    Base Purchase Price
	  	 	8	 
		
	 3.2    Possible Increase of Base Purchase Price in Connection with the Offer
	  	 	8	 
		
	 3.3    Payment of Closing Purchase Price
	  	 	10	 
		
	 3.4    No Set-off; No Right of Retention
	  	 	10	 
		
	 3.5    Information
	  	 	10	 
		
	 Section 4 Closing
	  	 	10	 
		
	 4.1    Place and Time of Closing
	  	 	10	 
		
	 4.2    Closing Conditions
	  	 	11	 
		
	 4.3    Merger Control and Other Regulatory Proceedings and Further Covenants
	  	 	13	 
		
	 4.4    Actions on the Closing Date
	  	 	15	 
		
	 4.5    Closing Memorandum
	  	 	16	 
		
	 Section 5 Representations and Warranties of Seller; Remedies
	  	 	16	 

  
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	 5.1    Seller’s Warranties
	  	 	16	 
		
	 5.2    Remedies
	  	 	17	 
		
	 Section 6 Representations and Warranties of Purchaser and Parent; Remedies
	  	 	19	  
		
	 6.1    Acquirors’ Warranties
	  	 	19	 
		
	 6.2    Remedies
	  	 	20	 
		
	 Section 7 Covenants
	  	 	22	 
		
	 7.1    Resignations
	  	 	22	 
		
	 7.2    SAP Licences
	  	 	22	 
		
	 Section 8 Parent Company Guarantee
	  	 	22	 
		
	 Section 9 Termination
	  	 	23	 
		
	 9.1    Termination Rights prior to Closing
	  	 	23	 
		
	 9.2    Effects of Termination prior to Closing
	  	 	23	 
		
	 Section 10 Miscellaneous
	  	 	23	 
		
	 10.1  Notices
	  	 	23	 
		
	 10.2  Service of Process
	  	 	25	 
		
	 10.3  Announcements; Confidentiality
	  	 	26	 
		
	 10.4  Costs and Expenses
	  	 	27	 
		
	 10.5  Entire Agreement; Amendments and Waivers; Termination of Standstill
	  	 	27	 
		
	 10.6  Assignments; Third Party Beneficiaries
	  	 	27	 
		
	 10.7  Governing Law; Dispute Resolution
	  	 	28	 
		
	 10.8  Interpretation and Definitions; Affiliate; Business Day
	  	 	28	 
		
	 10.9  Severability
	  	 	29	 
		
	 DEFINED TERMS
	  	 	31	 

  
 3 

 This Agreement is entered into on the date hereof (the “Signing Date”) by and among: 

 

	(1)	Franz Haniel & Cie. GmbH, a limited liability company (Gesellschaft mit beschränkter Haftung) organized under the laws of Germany, having its corporate seat in Duisburg, Germany,
and its registered office at Franz-Haniel-Platz 1, 47119 Duisburg, Germany, and registered with the commercial register (Handelsregister) of the local court (Amtsgericht) of Duisburg under registration number HRB 25
(“Seller”), 

  

	(2)	Dragonfly GmbH & Co. KGaA, a limited partnership based on shares (Kommanditgesellschaft auf Aktien) organized under the laws of Germany, having its corporate seat in Frankfurt am Main,
Germany, and its registered office at Eschenheimer Anlage 1, 60316 Frankfurt am Main, and registered with the commercial register (Handelsregister) of the local court (Amtsgericht) of Frankfurt am Main under registration number
HRB 97726 (“Purchaser”) 

 represented by its general partner (persönlich haftender
Gesellschafter) Dragonfly Verwaltungs GmbH, a limited liability company (Gesellschaft mit beschränkter Haftung) organized under the laws of Germany, having its corporate seat in Frankfurt am Main, Germany, and its registered
office at Eschenheimer Anlage 1, 60316 Frankfurt am Main, and registered with the commercial register (Handelsregister) of the local court (Amtsgericht) of Frankfurt am Main under registration number HRB 97497, 

and 
  

	(3)	McKesson Corporation, a company organized under the laws of the state of Delaware, USA, having its corporate headquarters at One Post Street, San Francisco, CA 94104, USA (“Parent”).

 - Seller, Purchaser and Parent also individually referred to as “Party” or collectively as “Parties”
- 
 RECITALS 
  

	A.	 Celesio AG is a stock corporation (Aktiengesellschaft) incorporated under the laws of Germany, having its corporate seat in Stuttgart, Germany,
and its registered office at 

  
 4 

	 	
Neckartalstraße 155, 70376 Stuttgart, Germany, and registered with the commercial register of the local court (Amtsgericht) of Stuttgart under registration number HRB 9517
(“Celesio” or the “Company”). Celesio has a registered share capital (Grundkapital) of EUR 217,728,000 split into 170,100,000 registered no par value shares (auf den Namen lautende
Stückaktien), each representing a notional share in the registered capital (rechnerische Beteiligung am Grundkapital) of EUR 1.28 (all shares issued by the Company from time to time the “Celesio Shares”).

  

	B.	The Celesio Shares are admitted for trading inter alia on the regulated market (regulierter Markt) (Prime Standard) of the stock exchange in Frankfurt am Main under securities identification number ISIN
DE000CLS1001. The Celesio Shares are also traded via XETRA and Celesio is included inter alia in the stock market index MDAX. 

  

	C.	Seller holds title to a total of 85,058,505 (in words: eighty-five million fifty-eight thousand five hundred and five) Celesio Shares, currently representing approximately 50.01 % of the registered share capital of
Celesio (the “Seller’s Shares”). 

  

	D.	Celesio Finance B.V. – a wholly owned subsidiary of Celesio – has issued (i) convertible bonds in the nominal aggregate amount of EUR 350 million due October 2014 (ISIN: DE000A1AN5K5, WKN:
A1AN5K) which are convertible into new or existing no par value ordinary registered shares of Celesio (each such bond a “Convertible Bond 2014”) and (ii) further convertible bonds in the nominal aggregate amount of EUR 350
million due April 2018 (ISIN: DE000A1GPH50, WKN: A1GPH5) which are convertible into new or existing no par value ordinary registered shares of Celesio (each such bond a “Convertible Bond 2018” and the Convertible Bonds 2018
collectively with the Convertible Bonds 2014 the “Convertible Bonds”). 

  

	E.	Seller intends to sell all Seller’s Shares and Purchaser intends to purchase all Seller’s Shares subject to the terms and conditions of this Agreement. 

Therefore, the Parties enter into the following share purchase agreement (the “Agreement”): 

  
 5 

 Section 1 

Sale and Purchase of the Seller’s Shares 
  

	1.1	Agreement to Sell and Purchase 

 Seller hereby sells to Purchaser, and Purchaser hereby
purchases from Seller, the Seller’s Shares upon the terms set forth in this Agreement. 
  

	1.2	Delivery of the Shares 

 Seller shall deliver to Purchaser the Seller’s Shares on
the Scheduled Closing Date in accordance with Section 4.4. 
  

	1.3	Rights and Obligations Pertaining to the Seller’s Shares 

 The Seller’s Shares
shall be sold and transferred to Purchaser with all rights and obligations pertaining thereto, including the right to receive all profits not yet distributed prior to the Closing Date. 

Section 2 

Voluntary Takeover and Acquisition Offers 
  

	2.1	Offers for Celesio Shares and Convertible Bonds 

  

	2.1.1	Purchaser will announce, on the Signing Date, its decision to issue a voluntary cash takeover offer (Übernahmeangebot) within the meaning of Section 29 para. 1 of the German Securities Acquisition and
Takeover Act (Wertpapiererwerbs- und Übernahmegesetz – “WpÜG”) to the shareholders of Celesio for all Celesio Shares in accordance with the WpÜG (such offer as amended from time to time, the
“Offer”). 

  

	2.1.2	Purchaser will furthermore announce, on the Signing Date, its decision to issue voluntary public offers (öffentliche Erwerbsangebote) to acquire from all holders for a consideration in cash

  

	 	(i)	all outstanding Convertible Bonds 2014 as well as 

  

	 	(ii)	all outstanding Convertible Bonds 2018 

  
 6 

 in accordance with the terms and conditions of such offers (as amended from time to time, the
“Bond Offer”). The cash consideration shall be equal to EUR 53,117.78 for each Convertible Bond 2014 with a par value of EUR 50,000 and EUR 120,798.32 for each Convertible Bond 2018 with a par value of
EUR 100,000. 
  

	2.2	Offer Conditions 

  

	2.2.1	Neither the Offer nor the Bond Offer shall be subject to any conditions other than those set forth in Section 4.2.1 (a), (b) and (c) (the “Closing Conditions”).

  

	2.2.2	Any Closing Condition (other than the Closing Conditions set forth in Section 4.2.1 (a) and (b)) shall, in any event, automatically cease to be a Closing Condition for all purposes of this
Agreement if (i) Purchaser does not, for whatever reason, publish (veröffentlichen) both the Offer and the Bond Offer within 35 Business Days following the Signing Date, (ii) the respective Closing Condition is not contained in
the offer documents (Angebotsunterlagen) as part of both the Offer (the “Offer Document”) and the Bond Offer (the “Bond Offer Document”), or (iii) the respective Closing Condition is waived after
publication for either of the Offer or the Bond Offer (or for both), as the case may be, or the Offer or the Bond Offer, as the case may be, is prohibited by BaFin; provided, however, that any such Closing Condition shall automatically cease
to be a Closing Condition upon either of the Offer or the Bond Offer being unconditional at the end of the relevant acceptance period or the acceptance period for the Bond Offer does expire after the Acceptance Period. The Minimum Acceptance
Threshold set forth in Section 4.2.1 (c) shall automatically be decreased to a respective lower minimum acceptance threshold if Purchaser (i) publishes the Offer or the Bond Offer with a minimum acceptance threshold below 75%, or
(ii) subsequently reduces (whether once or multiple times) the minimum acceptance threshold in the Offer or the Bond Offer. 

  

	2.3	Information 

 Until Closing, Purchaser and Parent shall keep Seller informed on a regular
basis of the status of each the Offer and the Bond Offer and Purchaser and Parent shall promptly inform Seller of any event that has or is reasonably expected to have any materially adverse effect on the preparation, publication or timing of the
Offer or the Bond Offer, as the case may be. 

  
 7 

 Section 3 

Consideration 
  

	3.1	Base Purchase Price 

 Subject to any increase in accordance with this Section 3, the
consideration for the sale and transfer of the Seller’s Shares under this Agreement shall be EUR 23.00 (in words: twenty-three Euro) per Seller’s Share (“Base Purchase Price Per Share”), resulting in an aggregate base
purchase price of 
 EUR 1,956,345,615 

(in words: one billion nine hundred fifty-six million 

three hundred forty-five thousand six hundred fifteen Euro) 

(the “Base Purchase Price”) 

payable by Purchaser in cash to Seller on the Scheduled Closing Date. 

 

	3.2	Possible Increase of Base Purchase Price in Connection with the Offer 

  

	3.2.1	The Base Purchase Price shall be increased if 

  

	 	(i)	the consideration offered to the Celesio shareholders in the Offer Document (whether initially or in any subsequent amendment) exceeds, on a price or value per share basis, the Base Purchase Price Per Share; and/or

  

	 	(ii)	any consideration offered or owed to any Celesio shareholder (other than Seller) in connection with the Offer pursuant to Section 31 para. 4 and 6 or para. 5 and 6 WpÜG or pursuant to Section 4
et seq. German Takeover Regulation (WpÜG-AngebotsVO) exceeds, on a price or value per share basis, the Base Purchase Price Per Share; 

in each case the amount of the increase shall be determined in accordance with Sections 3.2.2 and 3.2.4. 

 

	3.2.2	As of the beginning of the fifth (5th) Business Day prior to the Scheduled Closing Date, the preliminary amount of increase, if any, shall be determined as
follows: 

  

	 	(i)	the number of Seller’s Shares multiplied by 

  
 8 

	 	(ii)	the result of (a) the value of the consideration offered or owed per Celesio Share in connection with the Offer at that time (based on Purchaser’s public announcements on such date) minus (b) the
Base Purchase Price Per Share (the “Preliminary Adjustment Amount”). 

  

	3.2.3	The sum of (i) the Base Purchase Price and (ii) the Preliminary Adjustment Amount, if any, shall be referred to as the “Closing Purchase Price” and shall be due and payable in cash on the
Scheduled Closing Date in accordance with Section 4.4. The Closing Purchase Price increased by any adjustment amount pursuant to this Section 3.2, if any, shall be referred to as the “Purchase Price”. 

 

	3.2.4	If the Base Purchase Price is to be increased in accordance with Section 3.2.1 (i) and/or (ii) and to the extent such increase was, for whatever reason, not reflected in the Closing Purchase Price, the
amount of increase shall be equal to 

  

	 	(i)	the number of Seller’s Shares multiplied by  

  

	 	(ii)	the result of (a) the total value of the consideration offered or owed per Celesio Share as contemplated in Section 3.2.1 (i) and/or (ii) minus (b) the Adjusted Purchase Price Per Share.

  

	3.2.5	“Adjusted Purchase Price Per Share” shall mean the Base Purchase Price Per Share 

plus (i) any Preliminary Adjustment Amount under Section 3.2.2 already paid to Seller divided by the number of
Seller’s Shares 
 plus (ii) any adjustment amount under this Section 3.2.4 already paid to Seller divided by
the number of Seller’s Shares. 
  

	3.2.6	Any adjustment amount other than the Preliminary Adjustment Amount shall be payable in cash and shall become due at the same date the consideration to the respective Celesio shareholders becomes due and payable.

  

	3.2.7	This Section 3.2 and Section 2.3 shall apply mutatis mutandis to any public offer for any Celesio Shares (whether voluntary or mandatory but except for those defined in section 31 para. 5, second
sentence WpÜG) other than the Offer and the Bond Offer (“Other Offer”), made by Purchaser, Parent, any of their Affiliates or any individual and entity acting collectively with Purchaser, Parent or any of their Affiliates
(gemeinsam handelnde Personen) within the meaning of Section 2 para. 5 WpÜG (“Entity Acting Collectively”) via publication of the offer document prior to or in the period of one (1) year following the
announcement of the Offer. 

  
 9 

	3.2.8	This Section 3.2 shall not apply, and no price increase shall be due, if the offer price for the other shareholders of Celesio is increased as a result of (x) the acquisition (whether through the Bond Offer,
in the market, over the counter, in private transactions or otherwise) of any Convertible Bonds or (y) the conversion of Convertible Bonds into Celesio Shares. 

 

	3.3	Payment of Closing Purchase Price 

 On the Scheduled Closing Date, Purchaser shall pay to
Seller the Closing Purchase Price in accordance with Section 4.4. 
  

	3.4	No Set-off; No Right of Retention 

 Purchaser shall not be entitled to exercise any right
of set-off (Aufrechnung) or retention right (Zurückbehaltung) with respect to its payment obligations under or in connection with this Section 3 and Section 4.4. 

 

	3.5	Information 

 Purchaser shall provide Seller with all appropriate information for the
purposes of this Section 3. 
 Section 4 

Closing 
  

	4.1	Place and Time of Closing 

 The consummation of the transactions contemplated by this
Agreement as set forth in Section 4.4 (the “Closing”) shall take place at the offices of Hengeler Mueller in Düsseldorf at 10 a.m. CET on the fifth (5th) Business
Day after all Closing Conditions are met, or at any other time or place as the Parties may mutually agree upon in writing. The date on which Closing is to occur in accordance with the preceding sentence is referred to herein as the
“Scheduled Closing Date”. The date on which the Closing is actually completed is referred to herein as the “Closing Date”. 

  
 10 

	4.2	Closing Conditions 

  

	4.2.1	The obligations of Seller and Purchaser to consummate the Closing are subject to the satisfaction of the following Closing Conditions (conditions precedent); Section 2.2 shall remain unaffected: 

 

	 	(a)	The Closing shall be permissible (as a result of (i) any approval granted by any competent merger control authority or (ii) the expiration of any applicable waiting period and the absence of an order by any
competent authority or court preliminarily or permanently prohibiting the transaction or otherwise) pursuant to the applicable merger control laws of Slovenia, Ireland and Austria (the “Merger Control Clearances”);

  

	 	(b)	The acquisition of the Seller’s Shares has not been prohibited pursuant to Section 4 para. 1 no. 4, Section 5 para. 2 of the German Foreign Trade Act (Außenwirtschaftsgesetz
– AWG) and Section 59 para. 1 sentence 1 of the German Foreign Trade Ordinance (Außenwirtschaftsverordnung – “AWV”) (the “AWG Clearance”); and 

 

	 	(c)	At the end of the acceptance period of the Offer (“Acceptance Period”), the aggregate number of all: 

  

	 	(i)	Celesio Shares, for which (x) the Offer has been effectively accepted until the end of the Acceptance Period (including for the avoidance of doubt Celesio Shares for which the acceptance of the Offer has been
declared in the Acceptance Period but only becomes effective after the acceptance by re-booking the Celesio Shares to the ISIN for Celesio Shares tendered into the Offer in the Acceptance Period as set out in the Offer Document for the Offer) and
(y) no withdrawal from the agreement concluded by acceptance of the Offer, if any, has been effectively declared; 

  

	 	(ii)	Celesio Shares which are held by Purchaser or any member of the group comprising Parent and its subsidiaries within the meaning of Section 15 et seq. of the German Stock Corporation Act (AktG)
(“Parent Group”) or any Entity Acting Collectively at the end of the Acceptance Period; 

  

	 	(iii)	Celesio Shares attributable to Purchaser or any member of the Parent Group at the end of the Acceptance Period pursuant to Section 30 WpÜG; 

 

	 	(iv)	Celesio Shares with regard to which Purchaser or any member of the Parent Group or any Entity Acting Collectively at the end of the Acceptance Period has entered into a conditional or unconditional agreement which
entitles Purchaser or any member of the Parent Group or any Entity Acting Collectively to demand the transfer of title to such Celesio Shares (including those sold under this Agreement); 

  
 11 

	 	(v)	Celesio Shares to be delivered under conversion rights associated with any Convertible Bonds (provided that (x) each Convertible Bond 2018 shall be counted with 52.521 Celesio Shares per EUR 1,000 in nominal
capital of such Convertible Bond 2018 and (y) each Convertible Bond 2014 shall be counted with 46.189 Celesio Shares per EUR 1,000 in nominal capital of such Convertible Bond 2014) 

 

	 	(A)	for which (x) the Bond Offer has been effectively accepted until the end of its acceptance period (including for the avoidance of doubt Convertible Bonds for which the acceptance of the Bond Offer has been declared
in the acceptance period of the Bond Offer but only becomes effective after the acceptance by re-booking the Convertible Bonds to the ISIN for Convertible Bonds tendered into the Bond Offer in the acceptance period of the Bond Offer as set out in
the Bond Offer Document for the Bond Offer) and (y) no withdrawal from the agreement concluded by acceptance of the Bond Offer, if any, has been effectively declared; 

 

	 	(B)	which are held by Purchaser or any member of the Parent Group or any Entity Acting Collectively at the end of the Acceptance Period; 

 

	 	(C)	attributable to Purchaser or any member of the Parent Group at the end of the Acceptance Period under Section 30 WpÜG if the WpÜG was also governing the acquisition of the Convertible Bonds (applied as if
they were shares carrying voting rights); 

  

	 	(D)	with regard to which Purchaser or any member of the Parent Group or any Entity Acting Collectively at the end of the Acceptance Period has entered into a conditional or unconditional agreement which entitles Purchaser
or any member of the Parent Group or any Entity Acting Collectively to demand the transfer of title to such Convertible Bond, 

provided that in respect of the Convertible Bonds 2018 under this Section 4.2.1(c)(v) a maximum of 17,010,000 Celesio Shares shall count
against the acceptance threshold, 
 is equivalent to at least 75% of the sum of (i) the number of Celesio Shares issued at the end of
the Acceptance Period (disregarding, however, any conversions of any Convertible Bonds in Celesio Shares) plus (ii) 33,176,282 Celesio Shares (the “Minimum Acceptance Threshold”). Celesio Shares and/or Convertible Bonds
which fall within several categories mentioned above shall count only once. 

  
 12 

	4.2.2	The Closing Condition under Section 4.2.1 (b) shall be deemed satisfied if the German Federal Ministry of Economics and Technology 

 

	 	(a)	has issued a certificate of compliance (Unbedenklichkeitsbescheinigung) (the “Clearing Certificate”) to Purchaser upon Purchaser’s application pursuant to Section 58
para. 1 sentence 1 AWV;  

  

	 	(b)	has not initiated a formal investigation pursuant to Section 55 AWV in relation to the acquisition of the Seller’s Shares pursuant to this Agreement within one (1) month after receipt of Purchaser’s
application for a Clearing Certificate (Section 58 para. 2 AWV); 

  

	 	(c)	has not notified Purchaser of the initiation of a formal investigation pursuant to Section 55 AWV in relation to the acquisition of the Seller’s Shares pursuant to this Agreement within three (3) months
from the Signing Date (Section 55 para. 3 AWV); or 

  

	 	(d)	has, in the event of a formal investigation pursuant to Section 55 AWV, failed to prohibit the acquisition of the Seller’s Shares pursuant to this Agreement within a period of two (2) months from the
submission of the complete documentation of the acquisition as specified in Section 57 AWV (Section 59 para. 1 AWV). 

  

	4.2.3	The Parties agree that any declarations, covenants, undertakings, agreements or similar arrangements according to which Purchaser, any member of the Parent Group or any Entity Acting Collectively is prevented from,
restricted in or otherwise limited in actually converting any Convertible Bonds into shares in Celesio shall be disregarded for all purposes of Section 4.2.1. 

 

	4.3	Merger Control and Other Regulatory Proceedings and Further Covenants 

  

	4.3.1	Purchaser shall make any filings or notifications in connection with merger control procedures in Slovenia, Ireland and Austria within five Business Days after Celesio has provided all information requested by Purchaser
for the filing prior to the Signing Date. Purchaser shall promptly deliver to Seller a copy of each filing or notification made. Any such filings or notifications shall (i) be made by Purchaser on behalf of all parties involved (except to the
extent not permitted under applicable law) and (ii) require the prior written consent of Seller (which shall not be unreasonably withheld). All filing fees or other disbursements in connection with any such filings or notifications shall be
borne by Purchaser. 

  
 13 

	4.3.2	For the purpose of obtaining the requisite approvals in the jurisdictions set forth in Section 4.2.1 (a), Purchaser and Seller shall, to the extent legally permissible, (i) reasonably cooperate in the
preparation of any filing or notification and in connection with any submission, investigation or inquiry, (ii) supply to any competent authority as promptly as practicable any additional information requested pursuant to any applicable law and
(iii) take all other procedural actions (other than the remedies mentioned in Section 4.3.4 which shall be exclusively governed by Section 4.3.4) required for any necessary clearance or to cause any applicable waiting periods to
commence and expire. If any information requested pursuant to sentence 1 (ii) is not available to Seller but to any Target Company (as defined in Section 7.2.2), Seller shall use best efforts to receive such information. In connection
with any proceeding under this Section 4.3, Seller and Purchaser shall (i) promptly provide each other with copies of any written communication (or written summaries of any non-written communication) with any competent authority,
(ii) contact, or communicate with, any competent authority only after consultation with the other Party, and (iii) promptly inform each other in advance of the time and place of any meetings and conferences with the competent authorities
and (iv) give each other and their respective advisors the opportunity to participate in all such meetings or conferences. 

  

	4.3.3	In exchanging or conveying filings, notifications, information, submissions, correspondence and communications under this Section 4.3, Seller and Purchaser shall designate competitively or commercially sensitive
information, which shall be redacted from the version shared with the other Party. Such non-confidential versions shall be supplied without undue delay and the exchange of any competitively or commercially sensitive information shall be limited to
lawyers and/or outside counsel provided that such exchange shall be conducted in a manner reasonably designed to preserve applicable lawyer/client and lawyer work product privileges. 

 

	4.3.4	Purchaser undertakes to negotiate in good faith with any competent authority in order to obtain the Merger Control Clearances. Purchaser shall take all actions, in particular offer and give all structural or behavioural
commitments to, or agree to any settlement or consent order by or similar arrangement with, any competent authority, which are reasonably necessary or desirable in order to ensure that the competent authorities clear the transaction contemplated in
this Agreement as soon as practically possible, except for actions which would either (i) have negative effects on the value of the combined group which, taken as a whole, would be greater than a material adverse effect on the value of Celesio
or (ii) result in a material loss of revenues currently generated by the combined group in Austria. 

  
 14 

	4.3.5	Purchaser shall have no right to request any adjustment of the Purchase Price or other amendment to this Agreement or withhold any portion of the Purchase Price as a result of any divestiture or other action pursuant to
Section 4.3.4. 

  

	4.3.6	This Section 4.3.1 through (and including) 4.3.5 shall apply mutatis mutandis to the AWG Clearance. 

  

	4.3.7	Purchaser and Parent intend to acquire (whether in the market, over the counter, in private transactions or otherwise) Celesio Shares and/or Convertible Bonds, in each case if commercially reasonable in Purchaser’s
and Parent’s discretion and to the extent legally permissible. 

  

	4.4	Actions on the Closing Date 

 On the Scheduled Closing Date, the Parties shall take, or
cause to be taken, the actions set forth in this Section 4.4 (a) and (b) below (the “Closing Actions”) which shall be taken simultaneously (Zug um Zug); it being understood that, prior to Closing, Seller will
transfer the Seller’s Shares to a blocked securities account (Sperrdepot) with J.P. Morgan AG (JPM) in Germany and open a cash account with JPM. Purchaser will (re-)locate the Closing Purchase Price to a bank account established by a
German bank or a German branch of a foreign bank to be specified no later than five Business Days prior to the Scheduled Closing Date and open a German securities account with the same bank. Each Party shall notify to the other Party the details of
its cash and security accounts at the latest five Business Days prior to the Scheduled Closing Date. 
 On the Scheduled Closing Date, 

 

	 	(a)	Seller shall instruct JPM to transfer the Seller’s Shares to Purchaser’s German securities account against payment of the Closing Purchase Price and 

 

	 	(b)	Purchaser shall instruct Purchaser’s bank to pay the Closing Purchase Price to the cash account of Seller with JPM against transfer of the Seller’s Shares, 

in each case by entering delivery versus payment (DvP) instructions in CASCADE, Clearstream Banking AG’s custody and settlement system.
Purchaser’s payment shall be by irrevocable and, subject to the DvP instruction, unconditional wire transfer of immediately available funds (effective on the same day, free of any costs and charges other than those of Seller’s Bank). 

  
 15 

	4.4.1	Seller shall sign and deliver to Celesio a declaration of termination relating to the existing Management and Service Agreement dated January 28, 1997 between Celesio and Seller, as amended on November 9,
2006. 

  

	4.4.2	Purchaser and Seller shall sign the Closing Memorandum in accordance with Section 4.5. 

  

	4.5	Closing Memorandum 

 Promptly after Seller has received the Closing Purchase Price and
Purchaser has received the Seller’s Shares, the Parties shall execute a memorandum (essentially in the form of Exhibit 4.5) to confirm to each other that all Closing Conditions have been satisfied and that Closing has
occurred (the “Closing Memorandum”). Upon execution of such memorandum by Seller and Purchaser, all Closing Conditions shall finally and irrevocably be deemed to have been satisfied. 

Section 5 

Representations and Warranties of Seller; Remedies 
  

	5.1	Seller’s Warranties 

  

	5.1.1	Seller hereby represents and warrants to Purchaser by way of independent guarantees (selbständige Garantieversprechen) pursuant to Section 311 para. 1 of the German Civil Code (Bürgerliches
Gesetzbuch, BGB – “German Civil Code”) that the statements set forth in this Section 5.1.1 below are correct as of the Signing Date and will be correct as of the Closing Date (unless stated otherwise below) (the
“Seller’s Warranties”): 

  

	 	(a)	Seller is a limited liability company (Gesellschaft mit beschränkter Haftung) duly incorporated and existing under German law. 

 

	 	(b)	No bankruptcy, insolvency or similar proceedings in any jurisdiction have been opened with respect to Seller and Seller is neither insolvent nor otherwise required or entitled to file for bankruptcy or insolvency. To
the knowledge of Seller, as of the Signing Date, no insolvency or bankruptcy filings have been threatened in writing with respect to Seller. 

  

	 	(c)	 Seller has full authority and capacity to enter into, and perform its obligations under, this Agreement, including the consummation of the Closing.
Seller’s entering into this Agreement and the performance of Seller’s obligations hereunder do not 

  
 16 

	 	
violate the articles of association or by-laws of Seller and have been duly authorized by all necessary corporate actions on the part of Seller. As of the Signing Date, Seller’s entering
into this Agreement and the performance of Seller’s obligations hereunder neither require any approval or consent by any court, governmental authority or other third party (except for approvals or consents which are Closing Conditions under
this Agreement) nor violate any judicial or governmental order or decree or any applicable law or, as of the Signing Date and the Closing Date, any agreement or other contractual obligation by which Seller is bound. 

 

	 	(d)	Seller is the sole legal and beneficial owner of the Seller’s Shares. 

  

	 	(e)	The Seller’s Shares have been validly issued and are fully paid up, freely transferable and free and clear of any liens, charges and other encumbrances (dingliche Belastungen) except for security interests
of Clearstream. 

  

	5.1.2	Seller makes no further statements, representations and warranties or guarantees other than those expressly and conclusively set forth in Section 5.1.1. The Parties agree that the statements contained in
Section 5.1.1 shall not constitute a quality guarantee concerning the purchase object within the meaning of Sections 443 and 444 of the German Civil Code (Garantie für die Beschaffenheit oder Haltbarkeit des Kaufgegenstandes).

  

	5.2	Remedies 

  

	5.2.1	If Seller is in breach of this Agreement, Seller shall, subject to the limitations set forth herein, either (i) no later than 20 Business Days after being notified by Purchaser of such breach, put Purchaser in such
position it would have been in without such breach (Naturalrestitution) or, after the expiration of such period or earlier at Seller’s sole discretion, (ii) pay to Purchaser (as reduction of the Purchase Price) an amount equal to
any direct (excluding consequential) damages (positives Interesse), within the meaning of Section 249 et seq. of the German Civil Code, excluding, however, Section 252 of the German Civil Code, arising out of such breach.

  

	5.2.2	The overall liability of Seller under or in connection with this Agreement whether for damages due to the incorrectness of a Seller’s Warranty or otherwise (e.g., for a breach of covenant or other obligation) shall
be limited to an amount equaling the Purchase Price actually paid by Purchaser to Seller. 

  

	5.2.3	 The Parties agree that the rights and remedies Purchaser may have with respect to the breach of a Seller’s Warranty, representation, warranty,
covenant or agreement or with respect to any indemnity contained in this Agreement are limited to the rights and remedies specified in this Section 5.2. Subject to Section 5.2.5, any and all rights and remedies of

  
 17 

	 	
any legal nature (other than the rights and claims expressly set forth in this Agreement such as those for specific performance (primäre Erfüllungspflichten)) which Purchaser may
have against Seller in connection with this Agreement or the transactions contemplated hereby shall be excluded. In particular, without limiting the generality of the foregoing, (i) any right of Purchaser to withdraw or rescind from
(zurücktreten), or to terminate (kündigen), this Agreement (other than as provided for in Section 9.1) or to require the winding up of the transactions contemplated under this Agreement (e.g., by way of großer
Schadensersatz or Schadensersatz statt der Leistung) or any right or remedy which would have a similar effect, (ii) any claims relating to statutory contractual, pre-contractual or quasi-contractual obligations (Sections 241
para. 2, 280 to 282, 311 of the German Civil Code), including, but not limited to, claims arising under culpa in contrahendo, (iii) any claims based on frustration of contract pursuant to Section 313 German Civil Code
(Störung der Geschäftsgrundlage), (iv) all remedies under the statutory law applicable to the sale of goods and rights (Section 434 et seq. of the German Civil Code), irrespective of whether any defects
(Mängel) exist on the Signing Date or arise in the period between the Signing Date and the Closing Date, (v) any claims relating to tort (Section 823 et seq. of the German Civil Code), and (vi) all rights to cancel,
challenge or otherwise declare void (anfechten) this Agreement or any declaration made by any Party are hereby expressly excluded and waived (verzichtet) by Purchaser. 

 

	5.2.4	The period of limitation for all claims of Purchaser pursuant to Section 5.2 shall run until, and any claims shall be time barred (verjährt), five (5) years after the Closing Date.

  

	5.2.5	The limitations set forth in Section 5.2.1 through (and including) 5.2.4 shall not affect any rights and remedies of Purchaser for fraud (arglistige Täuschung) or wilful misconduct (Vorsatz)
of Seller. 

  
 18 

 Section 6 

Representations and Warranties of Purchaser and Parent; Remedies 

 

	6.1	Acquirors’ Warranties 

 Purchaser and Parent (collectively the
“Acquirors” and individually an “Acquiror”) hereby represent and warrant to Seller by way of independent guarantees (selbständige Garantieversprechen) pursuant to Section 311 para. 1 of the
German Civil Code that the statements set forth hereafter are correct as of the Signing Date and will be correct as of the Closing Date (unless stated otherwise below) (the “Acquirors’ Warranties”): 

 

	 	(a)	Purchaser is a limited partnership based on shares (Kommanditgesellschaft auf Aktien) duly incorporated and existing under the laws of Germany, duly represented by its sole general partner Dragonfly Verwaltungs
GmbH. Parent is a corporation duly incorporated, existing and in good standing under the laws of the state of Delaware, USA. Parent indirectly through Cougar I UK Limited, London, United Kingdom, Cougar II UK Limited, London, United Kingdom, Cougar
III UK Limited, London, United Kingdom has unrestricted ownership of all shares in Purchaser. 

  

	 	(b)	No bankruptcy, insolvency or similar proceedings in any jurisdiction have been opened with respect to any Acquiror and no Acquiror is either insolvent or otherwise required or entitled to file for bankruptcy or
insolvency. To the knowledge of any Acquiror, as of the Signing Date, no insolvency or bankruptcy filings have been threatened in writing with respect to any Acquiror. 

 

	 	(c)	Both Acquirors have full authority and capacity to enter into and perform their respective obligations under this Agreement, including the consummation of the Closing. The Acquirors’ entering into this Agreement
and the performance of the Acquirors’ respective obligations hereunder do not violate the articles of association or by-laws of any Acquiror and have been duly authorized by all necessary corporate actions on the part of each Acquiror. As of
the Signing Date, the Acquirors’ entering into this Agreement and the performance of the Acquirors’ respective obligations hereunder neither require any approval or consent by any court, governmental authority or other third party (except
for approvals or consents which are Closing Conditions under this Agreement) or violate any judicial or governmental order or decree or any applicable law or, as of the Signing Date and the Closing Date, any agreement or other contractual obligation
by which any Acquiror is bound. 

  

	 	(d)	The Acquirors have complied with all capital market laws and regulations in the USA and Germany applicable to any transaction contemplated by this Agreement including, but not limited to, notification requirements,
insider trading and market manipulation rules. Neither any Acquiror, any Affiliate of any Acquiror, nor any Entity Acting Collectively has before the signing of this Agreement acquired or agreed to acquire within a period that will be relevant under
the minimum pricing rules pursuant to Section 31 WpÜG and Section 3 et seq. of the German Regulation on the Content of the Offer Document, the Consideration for Takeover Offers and Mandatory Offers and the Release from the Obligation
to Publish and Submit a Tender Offer (“WpÜG-Angebotsverordnung”) any Celesio Shares off-market (außerhalb der Börse) for a consideration per share exceeding the Base Purchase Price Per Share.

  
 19 

	 	(e)	Purchaser is directly and Parent is indirectly acquiring the Seller’s Shares for their own account as well as for investment and not with a view to any sale, distribution or other disposal thereof. No Acquiror is
acting in the interest or for the account of any third party. Parent has no intention to sell, distribute other otherwise dispose of any shares held in Purchaser to an entity outside the Parent Group. 

 

	 	(f)	Purchaser has at the Signing Date and will have as of the Closing Date a cash confirmation in accordance with Section 13 para. 1 sentence 2 WpÜG stating that Purchaser has taken all necessary steps
to ensure it has sufficient means to fully perform the Offer to the shareholders of Celesio to acquire the Celesio Shares outstanding at the time of the Offer (including the Seller’s Shares and any shares in Celesio to be issued or delivered
under the Convertible Bonds) at the time at which the claim for the cash consideration falls due. 

  

	6.2	Remedies 

  

	6.2.1	If any Acquirors’ Warranty is incorrect, the Acquirors shall be jointly and severally liable (haftend als Gesamtschuldner) to compensate Seller and any of its Affiliates for all direct (excluding
consequential) damages caused. If (i) the Acquirors’ Warranty under Section 6.1 (d), final sentence, is breached and (ii) the value of the consideration per Celesio Share paid, promised and/or owed under the prior acquisition
(the “Prior Price”) exceeds the Adjusted Purchase Price Per Share as at the time Seller demands damages hereunder, the Aquirors shall, notwithstanding any claims for further damages, compensate a minimum damage equal to (a) the
number of Seller’s Shares multiplied by (b) the result of the Prior Price minus the Adjusted Purchase Price Per Share. 

  

	6.2.2	If any of the Acquirors is in breach of this Agreement, Acquirors shall, subject to the limitations set forth herein, either (i) no later than 20 Business Days after being notified by Seller of such breach, put
Seller in such position it would have been in without such breach (Naturalrestitution) or, after the expiration of such period or earlier at Acquirors’ sole discretion, (ii) pay to Seller an amount equal to any direct damages
(positives Interesse), within the meaning of Section 249 et seq. of the German Civil Code, excluding, however, Section 252 of the German Civil Code, arising out of such breach. 

 

	6.2.3	The overall liability of the Acquirors under or in connection with this Agreement whether for damages due to the incorrectness of an Acquirors’ Warranty or otherwise (e.g., for a breach of covenant or other
obligation except for the obligation to pay the Purchase Price) shall be limited to an amount equaling the Purchase Price, except in case the Acquirors’ Warranty pursuant to Section 6.1 (d) is incorrect. 

  
 20 

	6.2.4	The Parties agree that the rights and remedies Seller may have with respect to the breach of an Acquirors’ Warranty, representation, warranty, covenant or agreement or with respect to any indemnity contained in
this Agreement are limited to the rights and remedies specified in this Section 6.2. Subject to Section 6.2.6, any and all rights and remedies of any legal nature (other than the rights and claims expressly set forth in this
Agreement such as those for specific performance (primäre Erfüllungspflichten) including Seller’s claim for payment of the Base Purchase Price and any increases thereof whether under Section 3 or Section 6.2.1,
sentence 2) which Seller may have against the Acquirors in connection with this Agreement or the transactions contemplated hereby shall be excluded. In particular, without limiting the generality of the foregoing, (i) any right of Seller to
withdraw or rescind from (zurücktreten), or to terminate (kündigen), this Agreement (other than as provided for in Section 9.1) or to require the winding up of the transactions contemplated under this Agreement (e.g., by
way of großer Schadensersatz or Schadensersatz statt der Leistung) or any right or remedy which would have a similar effect, (ii) any claims relating to statutory contractual, pre-contractual or quasi-contractual obligations
(Sections 241 para. 2, 280 to 282, 311 of the German Civil Code), including, but not limited to, claims arising under culpa in contrahendo, (iii) any claims based on frustration of contract pursuant to Section 313 German Civil Code
(Störung der Geschäftsgrundlage), (iv) all remedies under the statutory law applicable to the sale of goods and rights (Section 434 et seq. of the German Civil Code), irrespective of whether any defects (Mängel)
exist on the Signing Date or arise in the period between the Signing Date and the Closing Date, (v) any claims relating to tort (Section 823 et seq. of the German Civil Code), and (vi) all rights to cancel, challenge or otherwise declare
void (anfechten) this Agreement or any declaration made by any Party are hereby expressly excluded and waived (verzichtet) by Seller. 

  

	6.2.5	The period of limitation for all claims of Seller pursuant to Section 6.2 shall run until, and any claims shall be time barred (verjährt), five (5) years after the Closing Date. 

 

	6.2.6	The limitations set forth in Section 6.2.1 through (and including) 6.2.5 shall not affect any rights and remedies of Seller for fraud (arglistige Täuschung) or wilful misconduct (Vorsatz) of the
Acquirors. 

  
 21 

 Section 7 

Covenants 
  

	7.1	Resignations 

 To the extent permissible under applicable law, Seller shall use
reasonable efforts that within two weeks after the Closing Date Mr. Stephan Gemkow and Dr. Florian Funck resign as members of the supervisory board of Celesio. 
  

	7.2	SAP Licences 

  

	7.2.1	Seller shall, and Purchaser and Parent shall cause any Target Company (as defined below), to comply with the terms of the existing Licence Agreement (Nutzungsvertrag zur Softwareüberlassung und
Softwarepflege) between Celesio and Seller dated December 21, 2007 relating to the use by Celesio of SAP licences currently held by Seller. 

  

	7.2.2	Celesio and any of its subsidiaries within the meaning of Section 15 et seq. of the German Stock Corporation Act (AktG) are each herein referred to as “Target Company”. 

Section 8 
 Parent
Company Guarantee 
 Parent, as a separate and independent undertaking in addition to any other obligations Parent may have under or in
connection with this Agreement, hereby unconditionally and irrevocably guarantees (selbständiges Garantieversprechen) to Seller, the due and timely performance and observance by Purchaser of all obligations, liabilities, commitments,
undertakings, warranties and indemnities of Purchaser under or in connection with this Agreement. 

  
 22 

 Section 9 

Termination 
  

	9.1	Termination Rights prior to Closing 

 This Agreement may be terminated (davon
zurücktreten) only prior to Closing by written notice of termination to be given to Seller (in the event of a termination by Purchaser) or to Purchaser (in the event of a termination by Seller), in each case without any further reminder or
prior notice being required and within one (1) month after the termination right has arisen, as follows: 
  

	 	(a)	by Seller or Purchaser if any competent governmental authority or court pursuant to Section 4.2 has prohibited the Closing and such decision has become final and non-appealable; 

 

	 	(b)	by Seller or Purchaser if Closing has not occurred prior to or on June 30, 2014, provided, however, that any Party who is in breach of this Agreement (including due to actions or lack of actions by third
parties attributable (zurechenbar) to such Party) and such breach caused, solely or together with other events or circumstances, the Closing not to occur by such date, shall not be entitled to terminate this Agreement pursuant to this
Section 9.1 (b); 

  

	 	(c)	by Seller or Purchaser if Purchaser or Seller respectively fail to take on the Scheduled Closing Date any Closing Action to be taken by Purchaser or Seller respectively. 

 

	9.2	Effects of Termination prior to Closing 

 Upon notice of termination in accordance with
Section 9.1, all rights and obligations of the Parties hereunder shall terminate without any liability of any Party to the other Party, other than any liability for breaches of this Agreement prior to the termination. This Section 9.2,
Section 5.2.2, Section 5.2.3, Section 6.2.3, Section 6.2.4, Section 8 and Section 10 shall survive any termination of the Agreement pursuant to Section 9.1. 

Section 10 

Miscellaneous 
  

	10.1	Notices 

 All demands, notices, requests and other communications under or otherwise in
connection with this Agreement shall be made in writing in the English language and delivered by hand, by courier, by telefax or by e-mail (unless otherwise contemplated by this Agreement) to the person at the address set forth below or such other
person or address as may be designated by one Party to the other Parties in the same manner. 

  
 23 

 To Seller: 

Franz Haniel & Cie. GmbH 

Attn. Ulrich Dickel/Dr. Klaus Wiegel 

Franz-Haniel-Platz 1 
 47119
Duisburg 
 Germany 

Fax:         +49 203 806 444 

with a copy to: 

Hengeler Mueller 
 Attn.
Dr. Maximilian Schiessl/Mr. Thomas Meurer 
 Benrather Straße 18-20 

D-40213 Düsseldorf 

Germany 

Fax:         +49 211 8304 170 

e-mail:     maximilian.schiessl@hengeler.com 

                thomas.meurer@hengeler.com 

To Purchaser and Parent: 

McKesson Corporation 

Attn. General Counsel 
 One Post
Street 
 San Francisco, CA 94104 

USA 

Fax:         +1 415 983 9369 

  
 24 

 with a copy to: 

Linklaters LLP, Frankfurt 

Attn. Peter Erbacher and Stephan Oppenhoff 

Mainzer Landstrasse 16 
 60325
Frankfurt am Main 
 Germany 

Fax: +49-69-71003-333 

e-mail:         peter.erbacher@linklaters.com 

                    
stephan.oppenhoff@linklaters.com 
  

	10.2	Service of Process 

  

	10.2.1	Section 10.1 shall not apply in relation to the service of any claim form, notice, order, judgment or other document relating to or in connection with any legal proceedings, suit or action arising out of or in
connection with this Agreement. 

  

	10.2.2	Purchaser and Parent hereby appoint the lawyers admitted in Germany of the law firm of Linklaters LLP, Frankfurt, Germany, and Seller hereby appoints the lawyers admitted in Germany of the law firm of Hengeler Mueller,
Partnerschaft von Rechtsanwälten, Düsseldorf, Germany as their respective agent for service of process for all legal proceedings arising out of or in connection with this Agreement. Any appointments shall only terminate upon the
appointment of another agent for service of process domiciled in Germany, provided that the agent for service of process is an attorney admitted to the German bar and her/his appointment has been notified to and approved in writing by Seller in case
of any other Party’s agent or by Purchaser in case of Seller’s agent (such approval not to be unreasonably withheld). If any appointment terminates otherwise (e.g., because the appointee ceases to exist), the relevant Party must without
undue delay, but in any event no later than within five (5) Business Days following such termination, appoint another agent for service of process who meets the requirements set out in the preceding sentence. If such appointment is not made as
required, the President of the Frankfurt am Main Bar Association (Präsident der Rechtsanwaltskammer Frankfurt am Main) will, at the request of any Party, appoint an agent for service of process for the defaulting Party among the members
of the Frankfurt am Main Bar Association (Rechtsanwaltskammer Frankfurt am Main). The Parties shall promptly after the Signing Date and upon the appointment of any new agent for service of process issue to the agent a written power of
attorney and shall irrevocably instruct the agent to submit such deed in connection with any service of process under or in connection with this Agreement. 

  
 25 

	10.3	Announcements; Confidentiality 

  

	10.3.1	No Party shall, and each Party shall procure that none of its Affiliates will, make any press release or similar public announcement with respect to this Agreement unless Seller and Purchaser agree on a joint press
release. Each Party shall keep confidential and shall not disclose to any third party (other than an Affiliate, the financing sources of the Parent and the Purchaser or a professional advisor bound to this Section 10.3.1 or professional
confidentiality obligations provided that the disclosing Party shall remain responsible for any breach of confidentiality of such Affiliate, financing source or professional adviser) the contents of, the subject matter of and the negotiations
relating to this Agreement or any confidential information regarding any other Party disclosed to it in connection with this Agreement or its implementation. 

  

	10.3.2	Section 10.3.1 does not prevent any Party from disclosures required under any mandatory laws, enforceable orders by courts or public authorities or the rules and regulations of any stock exchange governing the
listing of any securities of the relevant Party. In such circumstances, the disclosure made shall be no more extensive in scope and nature than the minimum standard required by the relevant laws, orders, rules or regulations. If a person is so
required to make any announcement of or to disclose any confidential information, the relevant Party shall promptly notify the other Party or Parties concerned, where practicable and lawful to do so, before the announcement is made or disclosure
occurs and shall co-operate with the other Party or Parties regarding the timing and content of such announcement or disclosure or any action which the other Party or Parties may reasonably elect to take to challenge the validity of such
requirement. 

  

	10.3.3	“Confidential information regarding the other Party” in this Section 10.3 shall not include information that (i) is or has become known in the public domain other than through a fault of the
Party obliged to hold the information confidential or of any of such Party’s Affiliates or (ii) was lawfully known to such Party or to any of such Party’s Affiliates prior to the Signing Date and which is not subject to any other
confidential obligation to the other Party or Parties concerned. 

  

	10.3.4	Seller acknowledges that Purchaser may be required to announce the signing of this Agreement and to describe the major terms and conditions of this Agreement (including the consideration payable) in the Offer Document
and the Bond Offer Document. 

  
 26 

	10.4	Costs and Expenses 

  

	10.4.1	All transfer taxes, stamp duties, statutory fees (notarial fees), registration duties or other charges related to any regulatory requirements (including merger control and other regulatory proceedings) payable in
connection with the execution of this Agreement and the implementation of the transactions contemplated hereby shall be borne by Purchaser. 

  

	10.4.2	Except as set forth in Section 10.4.1, each Party shall pay its own expenses, including the costs of its advisors, incurred in connection with this Agreement. 

 

	10.5	Entire Agreement; Amendments and Waivers; Termination of Standstill 

  

	10.5.1	This Agreement (including all Exhibits hereto) contains the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior agreements and understandings with respect thereto
except for the confidentiality agreement between Seller and Parent dated May 28, 2013/June 3, 2013 which shall be terminated with effect as of the Closing provided that, in the event of any inconsistencies, Section 10.3 shall prevail.

  

	10.5.2	This Agreement (including this Section 10.5.2) may be amended or waived only if such amendment or waiver is by written instrument executed by all Parties and expressly referring to this Agreement.

  

	10.5.3	The standstill agreement pursuant to II.1 and II. 4 of the confidentiality agreement between Seller and Parent dated May 28, 2013 / June 3, 2013 shall terminate upon execution of this Agreement.

  

	10.6	Assignments; Third Party Beneficiaries 

  

	10.6.1	No Party shall assign, delegate, subcontract or otherwise transfer, including the entry into of any arrangement whereby another person is to perform, any of its rights or obligations under this Agreement without the
prior written consent of Seller in case of Purchaser and Parent and of Purchaser in case of Seller. 

  

	10.6.2	This Agreement does not confer any rights or remedies upon any person or entity other than the Parties. 

  
 27 

	10.7	Governing Law; Dispute Resolution 

  

	10.7.1	This Agreement (including Section 10.7.2) shall be governed by and construed in accordance with the laws of Germany excluding the conflict of laws rules and the Convention on the International Sale of Goods.

  

	10.7.2	Any dispute arising under or in connection with this Agreement or with respect to the validity of this Agreement shall be finally adjudicated by the ordinary courts. Exclusive venue for all disputes under this Agreement
shall, to the extent legally possible, be Frankfurt am Main. 

  

	10.8	Interpretation and Definitions; Affiliate; Business Day 

  

	10.8.1	As used in this Agreement, the capitalized words and terms shall have the meaning ascribed to them in the relevant definition. 

  

	 	(a)	“Affiliate” shall mean all affiliated companies (verbundenes Unternehmen) within the meaning of Section 15 et seq. of the German Stock Corporation Act (AktG) of the relevant Party.

  

	 	(b)	“Business Day” shall mean any day other than a (i) Saturday, (ii) Sunday or (iii) any other day on which banks in Düsseldorf or San Francisco are generally closed for business.

  

	10.8.2	All Exhibits to this Agreement are an integral part of this Agreement and shall have the same force and effect as if expressly set out in the body of this Agreement and any reference to this Agreement includes this
Agreement and the Exhibits as a whole. 

  

	10.8.3	The headings used in this Agreement are for convenience only and shall not affect the interpretation of any of the provisions of this Agreement. 

 

	10.8.4	References to times of day are to Central European Time, including Day Light Saving Time in any period where applicable. 

  

	10.8.5	Terms defined in the singular shall have a comparable meaning when used in the plural and vice versa. 

  

	10.8.6	Terms to which a German translation has been added shall be interpreted as having the meaning assigned to them by the German translation. 

  
 28 

	10.8.7	Words such as “hereof”, “herein” or “hereunder” refer (unless otherwise required by the context) to this Agreement as a whole and not to a specific provision of this Agreement. The term
“including” shall mean “including, without limitation”. 

  

	10.8.8	The Parties agree that none of the lenders or other person providing, underwriting or arranging the financing for Purchaser and Parent (the “Financing Sources”) is a party hereto, and none of them shall
have any liability to Seller or its Affiliates (other than Celesio and its subsidiaries) relating to or arising out of this Agreement, the financing documents or any ancillary agreement, whether at law, or equity, in contract, in tort or otherwise,
and neither the Seller nor any of its aforementioned Affiliates will have any rights or claims against any of the Financing Sources hereunder or thereunder. 

  

	10.9	Severability 

 The provisions contained in this Agreement shall be enforceable
independently of each of the others and should any provision of this Agreement, or any provision incorporated into this Agreement in the future, be or become invalid or unenforceable, the validity or enforceability of the other provisions of this
Agreement shall not be affected thereby. The invalid or unenforceable provision shall be deemed to be substituted by a suitable and equitable provision which, to the extent legally permissible, comes as close as possible to the intent and purpose of
the invalid or unenforceable provision. The same shall apply: (i) if the Parties have unintentionally failed to address a certain matter in this Agreement (Regelungslücke); in this case a suitable and equitable provision shall be
deemed to have been agreed upon which comes as close as possible to what the Parties, in the light of the intent and purpose of this Agreement, would have agreed upon if they had considered the matter; or (ii) if any provision of this Agreement
is invalid because of the scope of any time period or performance stipulated herein; in this case a legally permissible time period or performance shall be deemed to have been agreed which comes as close as possible to the stipulated time period or
performance. 
 [signature page to follow] 

  
 29 

 Signature page to the Share Purchase Agreement between Franz Haniel & Cie. GmbH, Dragonfly
GmbH & Co. KGaA and McKesson Corporation dated October 24, 2013 
 ACCEPTED AND AGREED: 

On October 24, 2013 for and on behalf of Franz Haniel & Cie. GmbH: 

 

					
	  /s/ Stephan Gemkow
	 		 	  /s/ Dr. Florian Funck

	Name: Stephan Gemkow	 		 	Name: Dr. Florian Funck
	Title: CEO (Vorsitzender des Vorstands)	 		 	Title: Member of the Executive Board (Mitglied des Vorstands)

 On October 24, 2013 for and on behalf of Dragonfly GmbH & Co. KGaA: 

represented by its general partner Dragonfly Verwaltungs GmbH 
  

	
	  /s/ John H. Hammergren

	Name: John H. Hammergren
	Title: Attorney-in-fact

 On October 24, 2013 for and on behalf of McKesson Corporation: 

 

	
	  /s/ John H. Hammergren

	Name: John H. Hammergren
	Title: CEO

  
 30 

 DEFINED TERMS 

(references are to pages of the Agreement) 
  

							
	A	  	 	  	E	  	 
				
	Acceptance Period	  	11	  	Entity Acting Collectively	  	9
	Acquiror	  	18	  	 F
	  	 
	Acquirors	  	18	  	  	
	Acquirors’ Warranties	  	18	  	Financing Sources	  	29
	Adjusted Purchase Price Per Share	  	9	  	 G
	  	
	Affiliate	  	28	  	  	
	Agreement	  	6	  	German Civil Code	  	16
	AWG Clearance	  	11	  	 M
	  	
	AWV	  	11	  	  
	B	  		  	Merger Control Clearances	  	11
	  		  	Minimum Acceptance Threshold	  	13
	Base Purchase Price	  	8	  		  	
	Base Purchase Price Per Share	  	8	  	O	  	
	Bond Offer	  	7	  	  	
	Bond Offer Document	  	7	  	Offer	  	6
	Business Day	  	28	  	Offer Document	  	7
	C	  		  	Other Offer	  	9
	  		  	P	  	
	Celesio	  	5	  	  	
	Celesio Shares	  	5	  	Parent	  	4
	Clearing Certificate	  	13	  	Parent Group	  	11
	Closing	  	10	  	Parties	  	4
	Closing Actions	  	15	  	Party	  	4
	Closing Conditions	  	7	  	Preliminary Adjustment Amount	  	9
	Closing Date	  	10	  	Prior Price	  	20
	Closing Memorandum	  	16	  	Purchase Price	  	9
	Closing Purchase Price	  	9	  	Purchaser	  	4
	Company	  	5	  	 S
	  	
	Convertible Bond 2014	  	5	  	  	
	Convertible Bond 2018	  	5	  	Scheduled Closing Date	  	10
	Convertible Bonds	  	5	  	Seller	  	4

  
 31 

							
	Seller’s Shares	  	5	  	W	  	 
	Seller’s Warranties	  	16	  	  	 
	Signing Date	  	4	  	WpÜG	  	6
	T	  	 	  	WpÜG-Angebotsverordnung	  	19
	  		  		  	
				
	Target Company	  	22	  		  	

  
 32 

 Annexes 

Exhibit 4.5 (Closing Memorandum) 
 Power of Attorney by
Dragonfly GmbH & Co. KGaA represented by Dragonfly Verwaltungs GmbH 

  
 33 

 Annex 

Exhibit 4.5 
 Closing
Memorandum 
 Share Purchase Agreement 

dated October 24, 2013 
 by
and among 
 Franz Haniel & Cie. GmbH 

Dragonfly GmbH & Co. KGaA 

and 
 McKesson Corporation

 regarding the sale and purchase of 85,058,505 no par value registered shares in Celesio AG 

[— Scheduled Closing
Date] 

 Recitals 
  

	(i)	Franz Haniel & Cie. GmbH, Dragonfly GmbH & Co. KGaA and McKesson Corporation entered into a Share Purchase Agreement dated October 24, 2013 regarding the sale and purchase of 85,058,505 no par
value registered shares in Celesio AG (“Agreement”). 

  

	(ii)	The Agreement was consummated on the Closing Date as follows: 

 Section 11. Parties and
Representatives 
  

	1.1	Franz Haniel & Cie. GmbH (“Seller”) 

 represented by [—] 
 by virtue of a power of attorney, dated
[—], attached as Annex 1.1 
  

	1.2	Dragonfly GmbH & Co. KGaA (“Purchaser”) 

 represented by [—] 
 by virtue of a power of attorney, dated
[—], attached as Annex 1.2 
 Section 22. Time and Place

 The Closing took place at the offices of Hengeler Mueller in Düsseldorf between
[—] a.m. and [—] a.m. on [—] (the “Closing Date”). 

Section 33. Definitions 

Capitalized terms used in this Closing Memorandum which are not defined herein shall have the meaning as defined in the Agreement. 

 Section 44. Closing Conditions 

The Parties agree that the Closing Conditions, as set forth in Section 4.2.1 of the Agreement, have been satisfied as follows: 

 

	4.1	Merger Control Clearances in Slovenia, Ireland and Austria have been obtained in accordance with Section 4.2.1(a) of the Agreement; copies of the clearance letters of the competent merger control authorities
are attached as Annex 4.1. 

  

	4.2	AWG Clearance has been obtained in accordance with Section 4.2.1(b) of the Agreement; copy of the clearance certificate (Unbedenklichkeitsbescheinigung) is attached as Annex 4.2.

  

	4.3	The Minimum Acceptance Threshold has been met. 

 Section 55. Certain Pre-Closing
Actions 
 The Parties hereby confirm that the following actions to be taken under the Agreement prior to the Closing Date were taken as
follows: 
  

	5.1	Seller has transferred the Seller’s Shares to a blocked securities account (Sperrdepot) with J.P. Morgan AG (JPM) in Germany and opened a cash account with JPM. 

 

	5.2	Purchaser has relocated the Closing Purchase Price to a bank account with [—] and opened a securities account with
[—] [Note: bank where account is opened to be specified five business days prior to the Scheduled Closing Date in accordance with Sec 4.4 of the SPA]. 

  

	5.3	Each Party has notified the other Party of the details of its cash and security accounts at the latest five Business Days prior to the Closing Date. 

	5.1.1	6. Closing Actions 

  

	5.1.2	6. 1 The Closing Actions were taken simultaneously (Zug-um-Zug) as follows: 

  

	 	(c)	Seller instructed JPM to transfer the Seller’s Shares to Purchaser’s securities account against payment of the Closing Purchase Price and 

 

	 	(d)	Purchaser instructed [•] to pay the Closing Purchase Price to the cash account of Seller with JPM against transfer of the Seller’s Shares, 

in each case by entering delivery versus payment (DvP) instructions in CASCADE, Clearstream Banking AG’s custody and settlement system.
Purchaser’s payment is irrevocable and, subject to the DvP instruction, unconditional wire transfer of immediately available funds (effective on the same day, free of any costs and charges other than those of Seller’s Bank). 

 

	6.2	Seller signed and delivered to Celesio a declaration of termination relating to the existing Management and Service Agreement between Celesio and Seller (as specified in the Agreement). 

Section 67. Completion 

The Parties hereby confirm that the Closing has been completed with effect as of the date hereof,
[—] hours. 
 Section 78. Miscellaneous 

 

	8.1	This Closing Memorandum and the Parties’ rights and obligations thereunder shall be governed by German law. 

  

	8.2	Any disputes between the Parties arising under or in connection with this Closing Memorandum shall be settled in accordance with Section 10.7 of the Agreement. 

 

	8.3	Except for the agreement on the satisfaction of the Closing Condition set forth in Section 4.2.1 (c), the Parties’ rights and obligations under the Agreement shall not be affected by this Closing
Memorandum, but shall remain in full force and effect. 

 [signature page to follow] 

 ACCEPTED AND AGREED: 

On [—] for and on behalf of Franz Haniel & Cie. GmbH: 

 

					
	  
	 		 	  

	Name: [—]	 		 	Name: [—]
	Title: [—]	 		 	Title: [—]

 On [—] for and on behalf of Dragonfly GmbH & Co. KGaA:

  

					
	  
	 		 	  

	Name: [—]	 		 	Name: [—]
	Title: [—]	 		 	Title: [—]

 [— list of annexes] 

			
	Vollmacht	  	Power of Attorney
		
	 Die
	  	
	
	Dragonfly GmbH & Co. KGaA i.G.
		
	mit Sitz in Frankfurt am Main, Geschäftsanschrift Eschenheimer Anlage 1, 60316 Frankfurt am Main, Deutschland	  	having its corporate seat in Frankfurt am Main and business address at Eschenheimer Anlage 1, 60316 Frankfurt am Main, Germany
		
	(“Vollmachtgeber”)	  	(“Principal”)
		
	vertreten durch ihren Komplementär, die Dragonfly Verwaltungs GmbH mit Sitz in Frankfurt am Main, diese vertreten durch ihre einzelvertretungsberechtigten Geschäftsführer Roger Wade Estey und Willie C. Bogan	  	represented by its General Partner, Dragonfly Verwaltungs GmbH with corporate seat in Frankfurt am Main, which is represented by its Managing Directors with sole power of representation, Roger Wade Estey and Willie C.
Bogan
		
	bevollmächtigt hiermit	  	herby authorises
	
	John H. Hammergren
		
	geschäftsansässig c/o McKesson Corporation, One Post Street, San Francisco, CA 94104, USA	  	with business address c/o McKesson Corporation, One Post Street, San Francisco, CA 94104, USA
		
	(“Bevollmächtigter”)	  	(“Agent”)
		
	den Vollmachtgeber einzeln in allen Angelegenheiten im Zusammenhang mit dem Zusammenschluss mit Celesio AG, Stuttgart, zu vertreten, insbesondere, aber nicht hierauf beschränkt, bei folgenden Rechtgeschäften und
Maßnahmen:	  	to represent the Principal individually in all matters in connection with the business combination with Celesio AG, Stuttgart, in particular, but without limitation, in respect of the following transactions and actions:
		
	 •   Abschluss eines Business Combination Agreements mit Celesio AG;
	  	 •   entering into a Business Combination Agreement with Celesio AG;

		
	 •   Unterzeichnung eines Waiver Letters im Hinblick auf Wandlungsrechte aus Wandelschuldverschreibungen der Celesio
AG;
	  	 •   signing of a Waiver letter in respect of conversion rights under the Celesio AG’ convertible
bonds;

		
	 •   Abschluss eines Share Purchase Agreements mit dem Hauptaktionär von Celesio AG über den Erwerb von
dessen Aktien.
	  	 •   entering into a Share Purchase Agreements with the main shareholder of Celesio AG in respect of the acquisition
of its shares;

		
	Der Bevollmächtigte ist ermächtigt sämtliche Dokumente im Hinblick auf den Zusammenschluss im Namen des Vollmachtgerbers zu unterzeichnen und alle Maßnahmen vorzunehmen, die in diesem Zusammenhang erforderlich
oder förderlich sind.	  	The Agent shall be authorized to sign on behalf of the Principal all documents in relation to the business combination and to effect all measures which are required or beneficial in this
regard.

			
		
	Der Bevollmächtigte ist von den Beschränkungen des § 181 BGB befreit und bevollmächtigt, Untervollmacht in gleichem Umfang zu erteilen.	  	The Agent is released from the restrictions of sec. 1811 German Civil Code (BGB) and is authorised to grant sub-power of attorney in the same scope as this power of
attorney.
		
	Im Zweifel ist diese Vollmacht weit aus-zulegen.	  	In case of doubt, the scope of this power of attorney shall be construed broadly.
		
	Diese Vollmacht unterliegt deutschem Recht.	  	This power of attorney shall be governed by German law.
		
	Diese Vollmacht erlischt am 31. Dezember 2014, 24:00 Uhr.	  	This power of attorney expires on December 31, 2014, 24:00 o’clock.
		
	Der für diese Vollmacht maßgebliche Text ist derjenige in deutscher Sprache. Im Fall von Widersprüchen zwischen der deutschen und der englischen Fassung hat die deutsche Fassung Vorrang.	  	The German wording shall be decisive for this power of attorney. In case of any inconsistencies between the German and the English wording, the German wording shall prevail.

 San Francisco, California, den/this 18 October 2013 

Dragonfly GmbH & Co. KGaA i.G. 

vertreten durch / represented by 
  

			
	Signature:	 	  /s/ Roger Wade Estey

	Name:	 	Roger Wade Estey
	Function:	 	Managing Director of Dragonfly Verwaltungs GmbH

  

	1 	Sec. 181 BGB (German Civil Code) [Contracting with oneself] provides: “An agent may not, unless he is released from such restriction, enter into a legal transaction in the name of his principal with himself in his
own name, or as agent of a third party, unless the legal transaction consists exclusively in the fulfilment of an obligation.”EX-10.2

 Exhibit 10.2 

 
  

BUSINESS COMBINATION AGREEMENT 

24 October 2013 
  

 
  

  

 TABLE OF CONTENT 

 

							
	1.	  	ANNOUNCEMENT OF THE TAKEOVER OFFER; PRESS STATEMENTS	  	 	6	  
	2.	  	LAUNCH OF THE TAKEOVER OFFER	  	 	6	  
	3.	  	SUPPORT OF THE TAKEOVER OFFER BY THE COMPANY AND MUTUAL ACTIONS TO SUPPORT THE TRANSACTION	  	 	8	  
	4.	  	REASONED STATEMENT BY THE COMPANY’S CORPORATE BODIES ON THE TAKEOVER OFFER	  	 	9	  
	5.	  	REGULATORY APPROVALS, OTHER FILINGS AND CO- OPERATION	  	 	11	  
	6.	  	BUSINESS STRATEGY	  	 	12	  
	7.	  	ORGANISATIONAL STRUCTURE AND HEADQUARTERS	  	 	13	  
	8.	  	WORKFORCE AND EMPLOYEES	  	 	14	  
	9.	  	BRANDS	  	 	14	  
	10.	  	CORPORATE GOVERNANCE	  	 	14	  
	11.	  	CORPORATE MEASURES	  	 	15	  
	12.	  	APPROVAL BY CORPORATE BODIES	  	 	15	  
	13.	  	EFFECTIVENESS, TERM AND TERMINATION	  	 	16	  
	14.	  	ASSIGNMENT; COSTS	  	 	17	  
	15.	  	NOTICES	  	 	17	  
	16.	  	MISCELLANEOUS	  	 	18	  

 INDEX OF DEFINED TERMS 

 

			
	Defined Term	 	Section
		
	Affiliate	 	16.5(d)
	Agreement	 	Caption
	BaFin	 	2.1
	Bidder	 	Caption
	Bond Offer	 	Preamble F
	Bond Offers	 	Preamble F
	Business Combination	 	Preamble D
	Business Day	 	16.5(b)
	Celesio Group	 	Preamble A
	Celesio Shares	 	Preamble A
	Closing	 	3.1
	Company	 	Caption
	Competing Offer	 	3.1(a)
	Confidential information regarding the other Party	 	16.1(c)
	Convertible Bond 2014	 	Preamble F
	Convertible Bond 2018	 	Preamble F
	Convertible Bonds	 	Preamble F
	DPLTA	 	6.2(b)
	Financing	 	16.2
	Financing Sources	 	16.2
	Foreign Investment Clearance	 	2.5(b)
	Haniel-Shares	 	Preamble C
	Management Board	 	1.3
	McKesson Group	 	Preamble B
	Offer Announcement	 	1.1(a)
	Offer Conditions	 	2.5
	Offer Document	 	1.3
	Offer Price	 	2.3
	Parent	 	Caption
	Parties	 	Caption
	Party	 	Caption
	Reasoned Statement	 	4.1
	Recommendation Requirements	 	4.3
	Shareholder	 	Preamble C
	SPA	 	Preamble E
	Stock Corporation Act	 	3.5(b)
	Subsidiary	 	16.5(c)
	Superior Offer	 	4.3(b)
	Supervisory Board	 	1.3
	Takeover Act	 	Preamble D
	Takeover Offer	 	Preamble D
	Transaction	 	Preamble D
	Transformation Act	 	11

 This Business Combination Agreement (also referred to as the Agreement) is on 24 October 2013
entered into between 
 Dragonfly GmbH & Co. KGaA (the Bidder), 

and 
 McKesson Corporation (the Parent) 

and 
 Celesio AG (the Company), 

the Bidder, the Parent and the Company hereinafter also collectively referred to as the Parties and individually as a Party. 

PREAMBLE 
  

	A.	The Company is a German stock corporation (Aktiengesellschaft) incorporated under the laws of Germany, having its corporate seat in Stuttgart, Germany, and its registered office at Neckartalstraße 155,
70376 Stuttgart, Germany, and is registered in the commercial register (Handelsregister) at the Local Court (Amtsgericht) of Stuttgart under HRB 9517 (together with its Subsidiaries from time to time, hereinafter referred to as
Celesio Group). The Company’s share capital amounts to EUR 217,728,000.00 and is divided into 170,100,000 no-par value registered shares (auf den Namen lautende Stückaktien ohne Nennbetrag – all shares issued
by the Company from time to time the Celesio Shares). The Celesio Shares are listed – inter alia – on the regulated market (Prime Standard) of the Frankfurt Stock Exchange (ISIN: DE000CLS1001). 

 

	B.	The Bidder is a German partnership limited by shares (Kommanditgesellschaft auf Aktien) with registered office at Eschenheimer Anlage 1, 60316 Frankfurt am Main, Germany, and registered in the commercial register
of Frankfurt am Main under HRB 97726 and is an indirect wholly-owned subsidiary of the Parent. The Parent is a company organized under the laws of Delaware, having its headquarters at One Post Street, San Francisco, California, USA (the Parent
together with its Subsidiaries from time to time hereinafter referred to as McKesson Group). 

  

	C.	 Franz Haniel & Cie. GmbH is a German limited liability company (Gesellschaft mit beschränkter Haftung) organized under the laws
of Germany, having its corporate seat in Duisburg, and its registered office at Franz-Haniel-Platz 1, 47119 Duisburg, Germany, and is registered in the commercial register at the Local Court of Duisburg under HRB 25 (the

	 	
Shareholder). The Shareholder is a shareholder of the Company and holds a total of 85,058,505 Celesio Shares, representing approximately 50.01% of the Company’s outstanding
share capital (the shares held by the Shareholder in the Company being referred to as the Haniel-Shares). 

  

	D.	With a view to mutually strengthen the business of each other, the Parties intend to bring about a business combination of Celesio Group and McKesson Group (the Business Combination) by the Bidder making a
voluntary public cash takeover offer (Übernahmeangebot) (the Takeover Offer) within the meaning of section 29 (1) of the German Takeover Act (Wertpapiererwerbs- und Übernahmegesetz – Takeover
Act) to the shareholders of the Company for all Celesio Shares (the Transaction). The Parties believe that the Transaction is in the best interest of both Celesio Group and McKesson Group and their respective shareholders. This
Agreement sets forth the principal terms and conditions of the Transaction as well as the mutual intentions and understandings of the Parties with regard thereto, the future organisational and corporate governance structure of the Company and the
business strategy to be pursued by the Business Combination. 

  

	E.	The Bidder and the Parent are simultaneously with entering into this Agreement also entering into a share purchase agreement with the Shareholder (the SPA) pursuant to which (i) the Shareholder has
agreed to sell and transfer to the Bidder the Haniel-Shares and the Bidder has accepted such sale and transfer, and (ii) the Bidder has undertaken, inter alia, to make the Takeover Offer, both subject to signing of this Agreement and the
provisions set out in greater detail in said SPA. 

  

	F.	Parallel to the Takeover Offer, the Bidder will also announce and make voluntary public offers to acquire from all holders for a consideration in cash (i) all outstanding convertible bonds in the nominal aggregate
amount of EUR 350 million due October 2014 (ISIN: DE000A1AN5K5, WKN: A1AN5K) which are convertible into new or existing no par value ordinary registered shares of the Company (each such bond a Convertible Bond 2014) and
(ii) all outstanding convertible bonds in the nominal aggregate amount of EUR 350 million due April 2018 (ISIN: DE000A1GPH50, WKN: A1GPH5) which are convertible into new or existing no par value ordinary registered shares of the Company
(each such bond a Convertible Bond 2018 and together with the Convertible Bond 2014 the Convertible Bonds) in accordance with the terms of such offers (each a Bond Offer and together the Bond
Offers). The cash consideration in the Bond Offers shall be equal to EUR 53,117.78 for each Convertible Bond 2014 with a par value of EUR 50,000 and EUR 120,798.32 for each Convertible Bond 2018 with a par value of EUR 100,000. The Bond
Offers will be subject only to the conditions set out in section 2.5 hereof. 

  

 NOW THEREFORE, the Parties hereby agree as follows: 

1. ANNOUNCEMENT OF THE TAKEOVER OFFER; PRESS
STATEMENTS 
  

	1.1	Immediately after the signing of this Agreement and of the SPA, 

  

	 	(a)	the Bidder will publish the decision regarding the launch of the Takeover Offer, also stating the offered consideration, pursuant to section 10 Takeover Act (the Offer Announcement) as set forth in
Annex 1.1 (a); and 

  

	 	(b)	the Company shall publish an ad hoc announcement pursuant to section 15 (1) of the German Securities Trading Act (Wertpapierhandelsgesetz) as set forth in Annex 1.1 (b). 

 

	1.2	Promptly after the Bidder’s publication of the Offer Announcement pursuant to section 1.1 (a) and the Company’s publication of the ad hoc announcement pursuant to section 1.1 (b), the Company and the
Parent shall issue each a press release in respect of the Transaction as set forth in Annex 1.2. 

  

	1.3	In the ad hoc announcement pursuant to section 1.1 (b) and the press release pursuant to section 1.2 it shall be reflected that the management board of the Company (Vorstand – the Management
Board) and the supervisory board of the Company (Aufsichtsrat – the Supervisory Board) welcome and, subject to a review of the published offer document within the meaning of section 11 Takeover Act (the Offer
Document), support the Takeover Offer and the members of the Management Board shall state their intention to accept the Takeover Offer for the Celesio Shares held by them (if any). 

 

	1.4	The Company hereby agrees that the Bidder will disclose the material content of this Agreement as part of the Offer Document as well as in press releases by the Bidder and the Parent issued in connection with the
Takeover Offer (in addition to the press release referred to in section 1.2). Conversely, the Bidder hereby agrees that the Company will disclose the material content of this Agreement in press releases made by it in connection with the Transaction
(in addition to the press release referred to in section 1.2), as well as in the statements of its corporate bodies pursuant to section 27 Takeover Act regarding the Takeover Offer. 

2. LAUNCH OF THE TAKEOVER OFFER 

 

	2.1	The Bidder will prepare the Offer Document in accordance with the provisions of the Takeover Act and the Takeover Act Offer Ordinance (Angebotsverordnung) and in accordance with the terms of this Agreement in
reasonable cooperation and consultation with the Company and its advisors. In relation thereto, the Bidder will give the Company and its advisors the opportunity to review and comment upon the Offer Document prior to each submission of the Offer
Document to the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleitungsaufsicht – BaFin). In case of dispute on the content of the Offer Document and any document relating thereto, the
Bidder, acting reasonably, shall have the ultimate decision right. The same shall apply to any amendment to the Offer Document the Bidder is required to publish in connection with the Takeover Offer. 

  

	2.2	The Bidder will submit the Offer Document to BaFin within the statutory submission period pursuant to section 14 (1) Takeover Act. The Bidder shall not request an extension of the normal statutory submission
period (four weeks). 

  

	2.3	The consideration offered for the Celesio Shares in the Takeover Offer will be a cash consideration in the amount of EUR 23.00 (in words: twentythree) per Celesio Share (the Offer Price), subject to
any increases made either voluntarily or in accordance with the provisions of the Takeover Act (including any claims under section 31 (3) to (6) Takeover Act). 

 

	2.4	The Bidder will publish the Offer Document without undue delay after approval by BaFin. 

  

	2.5	The Takeover Offer will only be subject to the following conditions (the Offer Conditions): 

  

	 	(a)	the clearance of the Transaction by the competent merger control authorities listed in Annex 2.5(a); 

  

	 	(b)	the Transaction has not been prohibited by the German Federal Ministry of Economics and Technology (Bundeswirtschaftsministerium) pursuant to the provisions of the German Foreign Trade Act
(Außenwirtschaftsgesetz) and German Foreign Trade Ordinance (Außenwirtschaftsverordnung) (the Foreign Investment Clearance); and 

 

	 	(c)	a minimum acceptance threshold of 75% of the sum of (i) the Celesio Shares issued at the end of the acceptance period of the Takeover Offer (disregarding any conversions of any Convertible Bonds in Celesio shares)
and (ii) 33,176,282 shares (being the number of shares that would result from the conversion of all Convertible Bonds) has been reached, provided that for the calculation of the number of shares for which the Takeover Offer or the Bond Offer
have been accepted, or are held by, are attributed to or have been purchased by the Bidder, the Convertible Bond 2018 shall be counted with 52.521 Celesio Shares per EUR 1,000 in nominal capital of such Convertible Bond 2018 for which the Bond Offer
has been accepted or which are held by, are attributed to or have been purchased by the Bidder and the Convertible Bond 2014 shall be counted with 46.189 Celesio Shares per EUR 1,000 in nominal capital of such Convertible Bond 2014 for which the
Bond Offer has been accepted or which are held by, are attributed to or have been purchased by the Bidder. 

  

	2.6	The Bidder shall be entitled to waive any and all of the Offer Conditions in whole or part. 

  

	2.7	The Takeover Offer will provide for an initial acceptance period of six weeks. 

 3.
SUPPORT OF THE TAKEOVER OFFER BY THE COMPANY AND MUTUAL ACTIONS TO
SUPPORT THE TRANSACTION 
  

	3.1	The Company hereby undertakes that from the day of signing this Agreement to the earlier of (i) the termination of the Agreement and (ii) the consummation of the Takeover Offer (the Closing) it
will refrain (which includes that its Management Board will refrain), and will procure that any other member of the Celesio Group will refrain (which includes that the members of the representative bodies (Vertretungsorgane) of such members
of the Celesio Group will refrain), from initiating any measures or steps which may adversely affect the success or the timely completion of the Takeover Offer or the intentions of the Bidder or the Parent set forth herein. In particular, neither
the Company nor any other member of the Celesio Group shall, directly or indirectly: 

  

	 	(a)	solicit or initiate a competing public offer for Celesio Shares by a third party (a Competing Offer), or another transaction, proposal or approach, that if implemented would be reasonably likely to
adversely affect the success or the timely completion of the Takeover Offer or the intentions of the Bidder or the Parent set forth herein or any proposal or approach in relation thereto; and 

 

	 	(b)	enter into any communications, discussions, negotiations, correspondence or arrangements – unless being approached without the Company’s solicitation – or make any confidential documents relating to
Celesio Group or its business available with a view to soliciting or supporting any Competing Offer or any other transaction that if implemented would be reasonably likely to adversely affect the success or the timely completion of the Takeover
Offer or the intentions of the Bidder or the Parent set forth herein or any proposal or approach in relation thereto. 

  

	3.2	During the period from the date of the signing of the Agreement to the earlier of (i) the termination of the Agreement and (ii) the Closing, the Company shall: 

 

	 	(a)	in all material respects, carry on its business in the ordinary course, consistent with past practice and, in particular, refrain from 

 

	 	(i)	entering into joint ventures, partnerships or other forms of co-operations with third parties, if these transactions could jeopardise the success of the Takeover Offer; and 

 

	 	(ii)	 purchasing, selling, acquiring, transferring or encumbering material assets (including investments in intangible assets, fixed assets or financial
assets) having an aggregate value exceeding 

  

	 	
EUR 200 million, either directly or indirectly, by way of a merger or another form of transformation, takeover, acquisition, transfer, disposal or similar transaction with one or more third
parties or disposing of any such assets in another manner; 

  

	 	(b)	use reasonable commercial efforts to keep available the services of its current managers and employees; and 

  

	 	(c)	preserve its relationships with customers, suppliers and other parties having business deals with them. 

  

	3.3	The Bidder shall promptly notify the Company of the occurrence of any circumstance which would be reasonably likely to result in the non-compliance with any of the Parent’s and/or the Bidder’s obligations
under this Agreement, or which would otherwise be reasonably likely to have a negative impact on the completion of the Transaction. 

  

	3.4	The Company shall promptly notify the Bidder of the occurrence of any circumstance which would be reasonably likely to result in the non-compliance with any of the Company’s obligations under this Agreement, or
which would otherwise be reasonably likely to have a negative impact on the completion of the Transaction or the Bond Offers. In addition, the Company shall inform the Bidder immediately if it has been approached by a third party in relation to a
Competing Offer or other transactions that if implemented would be reasonably likely to adversely affect the success or the timely completion of the Takeover Offer or the intentions of the Bidder or the Parent set forth herein or has gained
otherwise knowledge about any proposal for a Competing Offer or any such transaction. 

  

	3.5	Nothing in this section 3 shall prevent the Company or the Management Board from: 

  

	 	(a)	providing information duly requested or required by a regulatory authority; and 

  

	 	(b)	following receipt of a proposal or approach in relation to a Competing Offer made by a third party without the Company’s solicitation, taking any action to the extent that to do so would be required in order for
them to comply with their fiduciary duties under German law, in particular, the duty of care and loyalty under section 93 German Stock Corporation Act (Aktiengesetz – Stock Corporation Act). 

4. REASONED STATEMENT BY THE COMPANY’S
CORPORATE BODIES ON THE TAKEOVER OFFER 
  

	4.1	Without undue delay and in any case within two weeks from the publication of the Offer Document the Management Board and the Supervisory Board shall (i) prepare a statement required pursuant to section 27 of the
Takeover Act (the Reasoned Statement) and (ii) publish the Reasoned Statement pursuant to sections 27 (3), 14 (3) of the Takeover Act. 

  

	4.2	The Company will give the Bidder, the Parent and their advisors the opportunity to review and comment on the Reasoned Statement prior to its publication. In case of dispute on the content of the Reasoned Statement and
any document relating thereto, the Company, acting reasonably, shall have the ultimate decision right. The same shall apply to any amendment to the Reasoned Statement of the Management Board and the Supervisory Board. 

 

	4.3	The Company will use its best efforts, subject to applicable law, that the Management Board and the Supervisory Board shall confirm in their Reasoned Statement that, in their opinion, (a) the Takeover Offer is in
the best interest of the Company, (b) the consideration for the Takeover Offer is fair, adequate and attractive, (c) the actual consequences of a successful Takeover Offer are in the best interest of the Company, its employees and their
representations, the employment conditions and the locations of the Company and (d) that – as far as set forth in this Agreement – they approve the intentions of the Bidder and that, therefore, the Management Board and the Supervisory
Board support the Takeover Offer and recommend to accept it. Such support and recommendation shall be subject to the following (together the Recommendation Requirements): 

 

	 	(a)	the Takeover Offer complies with the offer terms agreed in this Agreement; 

  

	 	(b)	no Competing Offer in relation to all Celesio Shares with reasonable chances of success and providing for more beneficial terms than the Takeover Offer (a Superior Offer) has been launched by a third party
or – in case of the launch of such a Superior Offer – the Bidder has matched such more beneficial terms within five (5) Business Days from publication of the offer document relating to such Superior Offer; 

 

	 	(c)	the financing of the Takeover Offer having been confirmed by a corresponding financing confirmation pursuant to section 13 (1) of the Takeover Act; and 

 

	 	(d)	no other circumstance existing that would cause the members of the Management Board and/or Supervisory Board to violate their duties under applicable law, including any obligations of the members of the Management Board
and/or the Supervisory Board to observe their duty of care and fiduciary duty towards the Company, including their obligations under sections 27 and 33 Takeover Act and under sections 76, 93 and 116 Stock Corporation Act. 

 

	4.4	From the date of this Agreement, as long as the Recommendation Requirements remain fulfilled, the Company will use its best efforts, subject to applicable law, that the Management Board and the Supervisory Board will:

  

	 	(a)	not withdraw or amend adversely to Bidder and Parent, or withdraw their intention to give, the Reasoned Statement; 

  

	 	(b)	not do any act, including making any public statement, which is (i) contrary to the Reasoned Statement or implementation of the Takeover Offer or (ii) recommending that its shareholders take or consider taking
any action that could prevent, adversely affect or delay the implementation of the Takeover Offer; and 

  

	 	(c)	not recommend (or agree or resolve to recommend) a Competing Offer. 

 5.
REGULATORY APPROVALS, OTHER FILINGS AND CO-OPERATION 
  

	5.1	The Bidder will file for the required merger control clearance in the jurisdictions listed in Annex 2.5(a) without undue delay after the date hereof. The filing shall be made by the Bidder on behalf of all parties
involved (except to the extent not permitted under applicable law), provided that they shall require the prior written approval of the Company where the Company is obliged to make a filing. All filing fees or other disbursements in connection with
the merger control clearance shall be borne by the Bidder (excluding, for the avoidance of doubt, any fees of lawyers or other advisors of any person or party other than the Parent and the Bidder). 

 

	5.2	In order to obtain clearance by the competent merger control authorities in the jurisdictions listed in Annex 2.5(a), the Bidder, the Parent and the Company shall co-operate, to the extent legally permissible, in all
respects with each other in the preparation of the filing and in connection with any submission, investigation or inquiry, supply to any competent authority as promptly as practicable any additional information requested pursuant to any applicable
law and take all other procedural actions (other than offering remedies to mitigate competition concerns by a relevant competition authority) required in order to obtain any necessary clearance or to cause any applicable waiting periods to commence
and expire. In connection with the merger control proceedings, the Parent, the Bidder and the Company shall (i) promptly provide each other with copies of any material written communication (or written summaries of any material non-written
communication), (ii) contact, or communicate with, any competent authority only after consultation with the other Party, (iii) promptly inform each other in advance of the time and place of any meetings and conferences with the competent
authorities and (iv) give each other and their respective advisors the opportunity to participate in all such meetings or conferences. In exchanging or conveying information, submissions, correspondence and communications, the Parent, the
Bidder and the Company shall designate competitively or commercially sensitive information, which shall be redacted from the version shared with the other Party. Such non-confidential versions shall be supplied without undue delay and the exchange
of any competitively or commercially sensitive information shall be limited to lawyers and/or outside counsel provided that such exchange shall be conducted in a manner reasonably designed to preserve applicable lawyer/client and lawyer work product
privileges. 

  

	5.3	Sections 5.1 and 5.2 shall apply mutatis mutandis to the Foreign Investment Clearance pursuant to section 2.5(b). 

  

	5.4	The Parent, the Bidder and the Company shall co-operate in all respects with each other, and keep each other informed in all material respects with respect to any communication given or received, in connection with any
filing, submission, investigation or proceeding relating to the Transaction or the Bond Offers. The Company agrees to provide, and to cause its Subsidiaries to provide, in each case as legally permitted, financial and other pertinent information
relating to the Company and its business to the extent reasonably requested by the Parent in connection with the Parent and the Bidder obtaining and marketing financing to be used in connection with the Business Combination. 

 

	5.5	The Company shall support the Bidder and the Parent to comply with any notification and/or filing obligations of the Parent under U.S. security and other laws due to the listing of the Parent shares on the New York
Stock Exchange and provide the Parent timely with any information and data required to properly prepare any such notification and/or filing. 

6. BUSINESS STRATEGY 
  

	6.1	Joint strategic objectives 

  

	 	(a)	By effecting the Transaction, the Parties intend to create one of the largest and leading integrated pharmaceutical distribution groups globally with a leading presence in major American and European markets.

  

	 	(b)	The complementary global footprints of Celesio Group and McKesson Group will serve as platform for further growth in Europe and emerging/“pharmerging” markets. Both, the Company and the Parent will be
maintained as separate corporate holding entities in the combined group and Celesio Group will be operated as a separate operating segment. The Celesio Group and the McKesson Group will have aligned but functionally separate business divisions and
responsibilities. 

  

	 	(c)	The Company and the Parent intend to pool their resources, particularly in the areas of 

  

	 	(i)	IT; 

  

	 	(ii)	financial resources; 

  

	 	(iii)	internationalisation; and 

  

	 	(iv)	pharmacy retail and distribution; 

 in a manner which fuels further expansion and ensures that
each benefits to a maximum extent from the know-how, specialty capabilities and experience of the other in the relevant area. 

  

	 	(d)	The Company and the Parent intend to combine their purchasing activities globally and believe that this will lead to significant procurement synergies. The combination will initially focus on the procurement of
pharmaceuticals but is intended to be extended to further areas. 

  

	6.2	Continuation and support of Company strategy 

  

	 	(a)	The Parent and the Bidder acknowledge that the Company pursues a defined and successful strategy based on the following initiatives: 

 

	 	(i)	set-up and implementation of end-to-end supply chain; 

  

	 	(ii)	rollout of European Pharmacy Network; and 

  

	 	(iii)	regional expansion in existing and new markets, namely in Europe and Brazil. 

  

	 	(b)	The Parent and the Bidder intend to fully support this strategy and the Company and the Management Board in its implementation. Save for the potential conclusion of a domination and/or profit and loss transfer agreement
with the Bidder in the meaning of section 291 (1) Stock Corporation Act (DPLTA), the strategy for Celesio Group’s business and its execution remain the responsibility of the Management Board with regard to all areas in which
Celesio Group currently conducts business. The Parent and the Bidder intend to maintain and support the Celesio Group as a leading supplier of integrated pharmaceutical distribution and pharmacy solutions in Europe and Brazil. 

7. ORGANISATIONAL STRUCTURE AND HEADQUARTERS 

 

	7.1	As of 1 June 2012, the Company has changed its organisational and reporting structure from a divisional to a functional organisation throughout the Celesio Group which covers the functions (i) marketing and
sales, (ii) operations, (iii) governance functions and (iv) support functions. 

  

	7.2	The Parent and the Bidder are aware of this organisational structure of the Company and agree that this structure is appropriate and effective for the Company’s business going forward. Save for possible changes
after implementation of any DPLTA, squeeze-out, merger squeeze-out or integration, the Parent and the Bidder intend not to cause the Company to significantly change or amend the functional organisational structure and to support all changes and
amendments in the organisation of entities of the Celesio Group which are required to fully implement this organisational structure. 

  

	7.3	The Parent and the Bidder confirm their intention to maintain the legal domicile of the Company as well as the locations of its important operations (wesentliche Unternehmensteile). 

  

 8. WORKFORCE AND EMPLOYEES 

 

	8.1	The Parent and the Bidder view the Business Combination, which is intended to create a platform for further growth of the Parties, as an opportunity for growth and further development also for the Company’s
employees and other stakeholders. Given the Company’s multinational structure in a number of diverse countries and markets, including in markets in which the Parent and the Bidder do not yet have any exposure or expertise, the Parent and the
Bidder heavily rely on the competence and commitment of the Company’s employees. 

  

	8.2	The Parent and the Bidder undertake not to cause the Company to take any actions that would lead to a change of the existing level and status of co-determination in the Supervisory Board. 

9. BRANDS 
 The Parent and
the Bidder acknowledge that the Company owns several strong brands in certain countries with a high degree of brand awareness by the respective markets and customers. The Parties agree that the names and logos / trademarks of the following brands
will not change after the implementation of the Transaction: 
  

	 	(a)	the name of the Company; and 

  

	 	(b)	the operative brands and company names used by the Celesio Group on a regional level in the countries in which the Company is active, e.g. the brand “Lloyd’s Pharmacy”. 

10. CORPORATE GOVERNANCE 
  

	10.1	Supervisory Board 

 The Supervisory Board shall continue to consist of twelve (12) members,
save for any changes required by law. Immediately following the resignation of incumbent members from the Supervisory Board as agreed in the SPA or otherwise, the Management Board will apply to the Local Court of Stuttgart for at least two persons
nominated by the Bidder to be appointed as new members of the Supervisory Board. 
  

	10.2	Management Board 

  

	 	(a)	The Parent and the Bidder have full trust and confidence in the current members of the Management Board and have no intention to effect or initiate a change of the composition of the Management Board. The Parent and the
Bidder do not intend to initiate, and have no intention to otherwise support, any action aiming at the removal of the current members of the Management Board or the termination of any corresponding service agreement. The Parent and the Bidder will
fully support the Management Board and the extended management team during the integration phase following the Transaction. 

  

	 	(b)	Save for the potential conclusion of a DPLTA, the Management Board shall continue to manage the Company independently and exclusively in its own responsibility. Consequently, the Parent and the Bidder acknowledge that,
unless a DPLTA has been concluded, the Bidder shall not issue directives to the Management Board or any of its members, and that there is no obligation on the part of the Management Board or any of its members to carry out or refrain from a legal
transaction or act at the inducement of the Bidder, whether in form of a request, a demand or an instruction. 

  

	 	(c)	The Parent and the Bidder intend that the members of the Management Board will continue to have substantially the same areas of responsibility with regard to the Celesio business after the implementation of the
Transaction. 

  

	 	(d)	For the avoidance of doubt, the Parent and the Bidder intend to appoint a chairman of the Management Board at some stage in the future and this could be one of the present members or an additional new member.

 11. CORPORATE MEASURES 

Nothing in this Agreement shall be taken to prevent any of the Parties to seek to enter into and/or to adopt resolutions in favour of any
enterprise agreements pursuant to section 291 Stock Corporation Act, merger under the German Transformation Act (Umwandlungsgesetz – Transformation Act), change of corporate form under the Transformation Act, squeeze-out
under the Stock Corporation Act or the Takeover Act, merger squeeze-out under the Transformation Act or integration under the Stock Corporation Act in relation to the Company and/or the Bidder. Following any merger of the Company and the Bidder, all
stipulations herein on rights and obligations of the Company shall apply to the merged company mutatis mutandis. 
 In the event of the
implementation of any such DPLTA, squeeze-out, merger squeeze-out or integration, nothing in this Agreement shall hinder the Bidder, the Parent or another member of McKesson Group to require or to take steps to implement measures which are directed
at fully realising synergy effects from the Business Combination or optimising the tax structure or realising tax benefits of the combined group. 

12. APPROVAL BY CORPORATE BODIES 

 

	12.1	The Bidder and the Parent hereby confirm that their respective competent corporate bodies have agreed to concluding and executing this Agreement. No further approval or permission is required on the Parent’s and
Bidder’s part for concluding and executing this Agreement. 

  

	12.2	The Company hereby confirms that its competent corporate bodies have agreed to concluding and executing this Agreement and that no further approval or permission is required on the Company’s part for concluding and
executing this Agreement. 

  

 13. EFFECTIVENESS, TERM AND
TERMINATION 
  

	13.1	The Agreement shall, with respect to the future operation and governance of the Business Combination, become effective upon the Closing. 

 

	13.2	The Agreement shall have a fixed term, ending twentyfour (24) months after the date of the Offer Announcement. 

Any intentions expressed in this Agreement do not extend beyond the term of this Agreement. 

 

	13.3	The Agreement may be terminated with immediate effect 

  

	 	(a)	by the Company or the Bidder (acting in its own name and on behalf of the Parent) if the Takeover Offer lapses as result of non-satisfaction of the Offer Conditions unless the Bidder has approached the Company within
four (4) Business Days from non-satisfaction of the Offer Conditions with a view to consent to a new takeover offer for the Company and the Company has agreed to a consequent offer within four (4) further Business Days; 

 

	 	(b)	by the Company in the following cases: 

  

	 	(i)	the Offer Document has not been published within thirtyfive (35) Business Days from signing of this Agreement; 

  

	 	(ii)	the Offer Price offered in the Takeover Offer is lower than the Offer Price agreed in section 2.3; 

  

	 	(iii)	the Takeover Offer contains completion conditions that materially differ from those specified in section 2.5; 

  

	 	(iv)	the intentions of the Parent and/or the Bidder as published in the Offer Document with regard to the strategy of the Parent and/or the Bidder differ materially from those set forth in this Agreement, unless such
difference has been requested by BaFin as a condition for clearance of the Takeover Offer; 

  

	 	(v)	a Superior Offer has been launched by a third party and the Bidder has not amended the Takeover Offer to match such Superior Offer in the period set out in section 4.3 (b); or 

 

	 	(vi)	the Parent or the Bidder have breached any material provision of this Agreement; 

  

	 	(c)	by the Bidder (in its own name and on behalf of the Parent) in the following cases: 

  

	 	(i)	the Company has breached any material provision of this Agreement; or 

  

	 	(ii)	the Management Board and/or the Supervisory Board do not issue, or withdraw the Reasoned Statement other than due to the Bidder and/or the Parent failing to comply with the Recommendation Requirements pursuant to
sections 4.3 (a) and 4.3 (c). 

  

	13.4	Notice of any termination must be given in writing and must be made within ten (10) Business Days after the terminating Party having become aware of the event triggering a termination right. In the event of
termination of this Agreement, this Agreement shall have no further effect save for those provisions the surviving of which is expressly agreed on in this Agreement (and which shall remain in full force and effect) but without prejudice to the
accrued rights of each Party upon termination. 

  

	13.5	The right to terminate this Agreement for good cause (aus wichtigem Grund) shall remain unaffected. Good cause shall exist where the terminating Party, taking into account all circumstances of the specific case
and weighing the interests of the Parties, cannot reasonably be expected (unzumutbar) to continue the contractual relationship through the remainder of the agreed fixed term (section 314 (1) sentence 1 of the German Civil Code
(Bürgerliches Gesetzbuch)). 

 14. ASSIGNMENT; COSTS 

 

	14.1	Any rights under this Agreement may only be assigned with the prior written consent of the other Parties. 

  

	14.2	Each Party shall bear its own fees and expenses with regard to the Business Combination and the conclusion of this Agreement. 

15. NOTICES 

Any and all notices and communications under this Agreement shall be made in writing in the English language and delivered by hand, by courier,
by telefax or by email (provided that receipt of the email is promptly confirmed by telefax or email which the receiving Party shall be confirming without undue delay after receipt of such email) to the person at the address set forth below, or such
other person or address as may be designated by the respective Party to the other Parties in the same manner: 
  

					
	(a)	  	if to the Bidder and/or the Parent:	  	
		
		  	 McKesson Corporation
 Attn.
General Counsel
 One Post Street
 San Francisco, CA 94104

USA

  

					
		  	 Fax no.: +1 415 983 9369
  

with copy to (which copy shall not constitute notice hereunder):
  

Linklaters LLP
 Attn. Peter Erbacher and Stephan Oppenhoff

Mainzer Landstraße 16
 60325 Frankfurt

Germany
 Fax no.: +49 69 71003333

Email: peter.erbacher@linklaters.com

stephan.oppenhoff@linklaters.com

		
	 (b)
	  	 if to the Company:
  

Celesio AG
 Attn. Management Board

Neckartalstraße 155
 70376 Stuttgart

Germany
 Fax no.: +49 711 5001 590

 
 with copy to (which copy shall not constitute notice hereunder):

 
 Freshfields Bruckhaus Deringer LLP

Attn. Dr. Andreas Fabritius and Dr. Arend von Riegen

Bockenheimer Anlage 44
 60322 Frankfurt

Germany
 Fax no.: +49 69 232664

Email: andreas.fabritius@freshfields.com

arend.vonriegen@freshfields.com

 16. MISCELLANEOUS 

 

	16.1	Confidentiality:  

  

	 	(a)	Except for the communication set forth in section 1 of this Agreement, (i) each Party shall keep confidential and shall not disclose to any third party (other than a Subsidiary or in case of the Bidder an
Affiliate, the Financing Sources (as defined below) or a professional advisor bound to this section 16.1(a) or professional confidentiality obligations provided that the disclosing Party shall remain responsible for any breach of
confidentiality of such Subsidiary, Affiliate or professional 

  

	 	
advisor) the contents of, the subject matter of and the negotiations relating to this Agreement or any confidential information regarding any other Party disclosed to it in connection with the
discussions preceding, or resulting in, this Agreement or its implementation. 

  

	 	(b)	Section 16.1(a) does not prevent any Party from disclosures required under any mandatory laws, enforceable orders by courts or public authorities or the rules and regulations of any stock exchange governing the
listing of any securities of the relevant Party. In such circumstances, any disclosure shall be no more extensive in scope and nature than the minimum standard required by the relevant laws, orders, rules or regulations. If a person is so required
to make any announcement of or to disclose any confidential information, the relevant Party shall promptly notify the other Party or Parties concerned, where practicable and lawful to do so, before the announcement is made or disclosure occurs and
shall co-operate with the other Party or Parties regarding the timing and content of such announcement or disclosure or any action which the other Party or Parties may reasonably elect to take to challenge the validity of such requirement.

  

	 	(c)	“Confidential information regarding the other Party” in this section 16.1 shall not include information that (i) is or has become known in the public domain other than through a fault
of the Party obliged to hold the information confidential or of any of such Party’s Affiliates or (ii) was lawfully known to such Party or to any of such Party’s Affiliates prior to the signing date of this Agreement and which is not
subject to any other confidential obligation to the other Party or Parties concerned. 

  

	 	(d)	The Company acknowledges that the Parent may be required by U.S. security laws to announce the signing of this Agreement and to describe the major terms and conditions of this Agreement (including the consideration
payable). 

  

	 	(e)	The confidentiality agreement among the Parent and the Company dated 2 May 2013 (the Confidentiality Agreement) shall terminate upon the execution of this Agreement. It shall become binding again on
its signatories in case this Agreement is terminated pursuant to section 13.3 hereof, provided that section II. 1 of the Confidentiality Agreement shall not become binding again if this Agreement is terminated pursuant to section 13.3(b)(v) and
section 13.3(c) hereof and section II. 4. of the Confidentiality Agreement shall not become binding again if this Agreement is terminated pursuant to section 13.3(b) hereof. 

 

	16.2	Financing: The parties hereto agree that none of the lenders or other person providing, underwriting or arranging the financing for the Bidder and the Parent of the Bidder’s payment obligations resulting
from its purchase of the 

  

	 	
Haniel-Shares or its making of the Takeover Offer or the Bond Offers (the Financing, such persons the Financing Sources) is a party hereto, and none of them shall have
any liability to the Company or its Affiliates relating to or arising out of this Agreement or the Financing, whether at law, or equity, in contract, in tort or otherwise, and neither the Company nor any of its Affiliates will have any rights or
claims against any of the Financing Sources hereunder or thereunder. 

  

	16.3	Severability: If any provision of this Agreement is or becomes invalid or unenforceable or if this Agreement contains a gap, this shall not affect the validity of the remaining provisions hereof. The invalid or
unenforceable provisions shall be replaced, or the gap shall be filled by a suitable provision which to the extent permitted by law comes closest to the purpose of what the Parties intended or would have intended, given the purpose and intent of
this Agreement, had they considered this aspect. 

  

	16.4	Entire Agreement, Amendments and Waivers: This Agreement contains all of the Parties’ agreements and understandings with respect to the subject matter hereof. No collateral agreements to this Agreement,
whether verbally or in writing, have been entered into between the Parties. Any and all amendments to this Agreement or waivers must be made in writing, unless stricter requirements as to their form are required by mandatory law. This shall also
apply to any waiver of compliance with the provisions of this section 16.4. 

  

	16.5	Interpretation, Definitions:  

  

	 	(a)	Terms to which a German translation has been added shall be interpreted as having the meaning assigned to them by the German translation. The headings of the sections and subsections in this Agreement are for
convenience purposes only and shall not affect the interpretation of any of the provisions hereof. 

  

	 	(b)	The term Business Day shall mean any day other than a Saturday, Sunday or other day on which banks in Frankfurt am Main, Germany, or San Francisco, USA, are generally closed. 

 

	 	(c)	Subsidiary shall mean all subsidiaries (Tochterunternehmen) within the meaning of section 2 (6) Takeover Act of the relevant Party. 

 

	 	(d)	Affiliate shall mean all connected enterprises (verbundene Unternehmen) within the meaning of sections 15 et seq. Stock Corporation Act 

 

	16.6	Language: This Agreement is made in the English language. 

  

	16.7	Governing Law, Jurisdiction: This Agreement shall be governed by and construed in accordance with the laws of the Federal Republic of Germany. Exclusive legal venue for all disputes arising between the Parties
from or in connection with this Agreement shall, to the extent legally possible, be Frankfurt am Main, Germany. 

  

 Signature page to the Business Combination Agreement between Celesio AG, Dragonfly GmbH & Co. KGaA and
McKesson Corporation dated October 24, 2013 
 ACCEPTED AND AGREED: 

On October 24, 2013 for and on behalf of Celesio AG: 
  

					
	 /s/ Dr. Marion Helmes
	 		 	 /s/ Stephan Borchert

	 Name: Dr. Marion Helmes
 Title: Speaker of
the Management Board,
 CFO
	 		 	 Name: Stephan Borchert
 Title: Member of the
Management Board

 On October 24, 2013 for and on behalf of Dragonfly GmbH & Co. KGaA 

represented by its general partner Dragonfly Verwaltungs GmbH 
  

	
	 /s/ John H. Hammergren

	 Name: John H. Hammergren

Title: Attorney-in-fact

 On October 24, 2013 for and on behalf of McKesson Corporation: 

 

	
	 /s/ John H. Hammergren

	 Name: John H. Hammergren

Title: CEO

  

 ANNEX 1.1 (a) – Offer Announcement 

Announcement of the decision to make a voluntary public takeover offer (freiwilliges öffentliches
Übernahmeangebot) pursuant to section 10 para. 1 in conjunction with sections 29 para. 1, 34 of the German Securities Acquisition and Takeover Act (Wertpapiererwerbs- und
Übernahmegesetz, WpÜG) 
 Offeror: 

Dragonfly GmbH & Co. KGaA 
 Eschenheimer Anlage 1 

60313 Frankfurt am Main 
 Germany 

registered with the commercial register of the local court (Amtsgericht) of Frankfurt am Main under HRB 97726 

Target: 
 Celesio AG 

Neckartalstraße 155 
 70376 Stuttgart 

Germany 
 registered with the commercial register of the local
court (Amtsgericht) of Stuttgart under HRB 9517 
 ISIN: DE 000CLS1001 

WKN: CLS 100 
 ISIN: DE 000A1AN5K5 

WKN: A1AN5K 
 ISIN: DE 000A1GPH50 

WKN: A1GPH5 
 Dragonfly GmbH & Co. KGaA
(“Dragonfly”), a wholly owned subsidiary of McKesson Corporation, San Francisco, USA, decided today to make a 

  

 
voluntary public takeover offer to the shareholders of Celesio AG (the “Takeover Offer”) for the acquisition of their non-par-value registered shares (auf den Namen
lautende Stückaktien) in Celesio AG (DE 000CLS1001; the “Celesio Shares”). Dragonfly intends to offer a consideration in cash of EUR 23.00 per Celesio Share. Dragonfly expects to make the Takeover Offer subject to
completion conditions relating to certain regulatory clearances and a minimum acceptance threshold of 75% of the Celesio Shares on a fully diluted basis. Otherwise the Takeover Offer will be made on the terms and conditions set forth in the
respective offer document. 
 Dragonfly has already entered into a share purchase agreement with Franz Haniel & Cie. GmbH for the acquisition of
50.01% of the Celesio Shares currently outstanding completion of which is only subject to conditions relating to regulatory clearances and a minimum acceptance threshold of 75% of the Celesio Shares on a fully diluted basis. In addition, Dragonfly,
McKesson Corporation and Celesio AG have entered into a Business Combination Agreement with a view to strengthening their respective businesses. 

Dragonfly also decided today to make separate public offers not regulated under the German Securities Acquisition and Takeover Act (Wertpapiererwerbs- und
Übernahmegesetz, (“WpÜG”)) to the holders of the convertible bonds issued by Celesio Finance B.V., namely in respect of the convertible bonds in the nominal aggregate amount of EUR 350 million due October
2014 (ISIN DE 000A1AN5K5; the “2014 Convertible Bond”) and the convertible bonds in the nominal amount of EUR 350 million due April 2018 (ISIN DE 000A1GPH50; the “2018 Convertible Bond” and together with the
2014 Convertible Bond the “Convertible Bonds”) (the “Bond Offers” and together with the Takeover Offer the “Offers”). Dragonfly intends to offer a consideration in cash of EUR 53,117.78 per
2014 Convertible Bond in a nominal amount of EUR 50,000 and EUR 120,798.32 per 2018 Convertible Bond in a nominal amount of EUR 100,000. The Bond Offers are expected to be made subject to the same completion conditions and is intended to run on
the same timetable as the Takeover Offer. Otherwise the Bond Offers will be made on the terms and conditions set forth in the respective offer document. 

The offer documents for the Takeover Offer and the Bond Offers (in German and a non-binding English translation) containing the detailed terms and conditions
of, and other information relating to, the Takeover Offer and the Bond Offers, respectively, will be published on the internet at 

http://www.GlobalHealthcareLeader.com. 

  

 The offer documents for the Offers will also be published by way of a notice of availability in the Federal
Gazette (Bundesanzeiger). 
 Important Notice 

The terms and conditions of the Takeover Offer will be published in the offer document for the Takeover Offer only after the permission by the German Federal
Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin) has been obtained. Investors and holders of Celesio Shares are strongly advised to read the relevant documents regarding the Takeover Offer
published by Dragonfly when they become available because they will contain important information. Investors and shareholders of Celesio AG will be able to receive these documents, when they become available, at the website
http://www.GlobalHealthcareLeader.com. Upon publication, the offer document for the Takeover Offer will also be available free of charge at a specified location and will be mailed to investors and shareholders of Celesio AG free of charge upon
request. 
 The terms and conditions of the Bond Offers will be published in the offer document for the Bond Offers on or about the time as the offer
document for the Takeover Offer will be published. The Bond Offers will not be subject to the WpÜG and will not be reviewed by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht,
BaFin). Investors and holders of Convertible Bonds are strongly advised to read the relevant documents regarding the Bond Offers published by Dragonfly when they become available because they will contain important information. Investors and
holders of Convertible Bonds of Celesio AG will be able to receive these documents, when they become available, at the website http://www.GlobalHealthcareLeader.com. Upon publication, the offer document for the Bond Offers will also be
available free of charge at a specified location and will be mailed to investors and holders of Convertible Bonds free of charge upon request. 
 This
announcement is for information purposes only and does not constitute an invitation to make an offer to sell Celesio Shares or Convertible Bonds. This announcement does not constitute an offer to purchase Celesio Shares or Convertible Bonds and is
not for the purposes of Dragonfly making any representations or entering into any other binding legal commitments. 
 An offer to purchase
Celesio Shares or Convertible Bonds will be solely made by the respective offer document which are to be published by Dragonfly in 

  

 
due course and is exclusively subject to their terms and conditions. The terms and conditions contained in the respective offer document may differ from the general information described in this
announcement. 
 Shareholders of Celesio AG and holders of Convertible Bonds are strongly recommended to seek independent advice, where appropriate, in
order to reach an informed decision in respect of the content of the offer document and with regard to the Takeover Offer or the Bond Offers. 
 The Offers
will be issued exclusively under the laws of the Federal Republic of Germany, the Takeover Offer especially under the WpÜG and the Regulation on the Content of the Offer Document, Consideration for Takeover Offers and Mandatory Offers and the
Release from the Obligation to Publish and Issue an Offer (“WpÜG Offer Regulation”), and certain applicable provisions of U.S. securities law. The Offers will not be executed according to the provisions of jurisdictions
(including the jurisdictions of Australia, and Japan) other than those of the Federal Republic of Germany and certain applicable provisions of U.S. securities law. Thus, no other announcements, registrations, admissions or approvals of the Offers
outside the Federal Republic of Germany will be filed, arranged for or granted. The shareholders of Celesio AG and holders of Convertible Bonds cannot rely on having recourse to provisions for the protection of investors in any jurisdiction
other than such provisions of the Federal Republic of Germany. Any contract that will be concluded on the basis of the Offers will be exclusively governed by the laws of the Federal Republic of Germany and will to be interpreted in accordance with
such laws. 
 Dragonfly has not approved the publication, sending, distribution, or dissemination of this announcement or any other document associated with
the Offers by third parties outside the Federal Republic of Germany. Neither Dragonfly nor persons acting in concert with Dragonfly within the meaning of Section 2 para. 5 sentence 1 and sentence 3 WpÜG are in any way responsible for the
compliance of the publication, sending, distribution, or dissemination of this announcement or any other document associated with the Offers by a third party outside of the Federal Republic of Germany to any jurisdiction with legal provisions other
than those of the Federal Republic of Germany. 
 The publication, sending, distribution or dissemination of this announcement in certain jurisdictions
other than the Federal Republic of Germany may be governed by laws of jurisdictions other than the Federal Republic of German in which the publication, sending, distribution or dissemination are subject to legal restrictions. Persons who are not
resident in the Federal Republic of Germany or who are for other reasons subject to the laws of other jurisdictions should inform themselves of, and observe, those. 

  

 If you are a resident of the United States, please read the following: 

The Offers will be made for the securities of non-US companies and will be subject to the disclosure and procedural laws, standards and practices of
jurisdictions other than the US, although are intended to be made in the United States in reliance on, and compliance with, Section 14(e) of the US Securities Exchange Act of 1934 (the “Exchange Act”) and Regulation 14E
thereunder, as exempted thereunder by Rule 14d-1(c). 
 In accordance with the intended Offers, McKesson Corporation, Dragonfly, certain affiliated
companies and the nominees or brokers (acting as agents) may make certain purchases of, or arrangements to purchase, Celesio Shares or Convertible Bonds outside the Offers also during the period in which the Offers remain open for acceptance.
If such purchases or arrangements to purchase are made they will be made outside the United States and will comply with applicable law, including the Exchange Act. 

Frankfurt am Main, 24 October 2013 
 Dragonfly
GmbH & Co. KGaA 
 The Board of Managing Directors 

  

 ANNEX 1.1 (b) – Ad hoc Announcement 

Celesio AG – ad hoc release in accordance with § 15 of the German Securities Trading Act: 

Business combination with McKesson Corporation; public takeover offer for Celesio AG of EUR 23.00 per share 

Stuttgart, 24 October 2013. Today, McKesson Corporation (“McKesson”) with seat in San Francisco, USA, and Celesio AG have entered into a
business combination agreement. McKesson and Celesio intend to create one of the largest and leading integrated pharmaceuticals distribution groups globally with a leading presence in major American and European markets. 

Concurrently, McKesson and Dragonfly GmbH & Co. KGaA (“Bidder”), a wholly owned subsidiary of McKesson, have signed an agreement
with Franz Haniel & Cie. GmbH (“Haniel”) to acquire Haniel’s majority interest (50.01%) in Celesio AG. The Bidder will launch a voluntary public takeover offer to the shareholders of Celesio AG for the acquisition
of their non-par-value registered shares (auf den Namen lautende Stückaktien) in Celesio AG (ISIN DE 000CLS1001) (“Celesio Shares”) for a cash consideration of EUR 23.00 per Celesio Share. Further, the Bidder will
launch public offers to the holders of convertible bonds issued by Celesio for a cash consideration of EUR 53,117.78 per EUR 50,000 nominal value of the convertible bonds due October 2014 (ISIN DE 000A1AN5K5) and a cash consideration of
EUR 120,798.32 per EUR 100,000 nominal value of the convertible bonds due April 2018 (ISIN DE 000A1GPH50). 
 The takeover offer and the bond
offers are expected to be subject to completion conditions relating to certain regulatory clearances and a minimum acceptance threshold of 75% of the Celesio Shares on a fully diluted basis. 

The Management Board and the Supervisory Board welcome the takeover offer. Subject to review of the offer document the members of the Management and
Supervisory Board support the takeover offer. The members of the Management Board intend to accept the takeover offer for any Celesio Shares held by them. 

  

 ANNEX 1.2 – Press Release 

MCKESSON ANNOUNCES AGREEMENT TO PURCHASE CELESIO TO CREATE 

LEADING GLOBAL HEALTHCARE SERVICES PLATFORM 
  

	 	•	 	McKesson Corporation to acquire entire holding of Franz Haniel & Cie. GmbH, currently representing a 50.01% stake in Celesio AG; will launch voluntary tender offers for remaining
publicly-traded shares and convertible bonds; total transaction valued at $8.3 billion(€6.1 billion)* 

  

	 	•	 	Customers will benefit from increased supply chain efficiency, enhanced global sourcing, and a broad array of innovative technology and business services 

 

	 	•	 	Manufacturing partners and suppliers will benefit from access to new markets and the efficiency of a global distribution partner 

 

	 	•	 	Immediate value creation for Celesio investors at an attractive premium 

 San Francisco &
Stuttgart, Germany – McKesson Corporation [NYSE: MCK] (“McKesson”), a leading North American healthcare services and information technology company, and Celesio AG [ISIN DE000CLS1001] (“Celesio”), a leading
international wholesale and retail company and provider of logistics and services to the pharmaceutical and healthcare sectors, announced today that McKesson has signed an agreement to acquire a majority stake in Celesio for €23 per share and
to launch parallel voluntary public tender offers for the remaining publicly-traded shares and outstanding convertible bonds of Celesio. The offer price of €23 per share represents a 39% premium over the three-month volume weighted average
price prior to the market speculation that began on October 8, 2013. The total transaction, including the assumption of Celesio’s outstanding debt, is valued at approximately $8.3 billion(€6.1 billion)*. 

McKesson and Celesio will combine to form a global leader in healthcare services with deep expertise in delivering solutions to pharmacies, manufacturers,
patients and other customers. The transaction brings together the strength of two leaders with complementary geographic footprints, shared values and a heritage of trusted healthcare services – through pharmaceutical wholesaling, community
pharmacy care and information technology – dating back approximately 180 years. 
 The combined company will be one of the largest pharmaceutical
wholesalers and providers of logistics and services in the healthcare sector worldwide and expects to deliver: 
  

	 	•	 	Exceptional value to customers through increased supply chain efficiency and enhanced global sourcing; 

  

	 	•	 	Global distribution and logistics capabilities that bring new value and services to manufacturing partners; 

  

	 	•	 	A broad array of innovative technology and business services; and 

  

	 	•	 	Operating best practices across an extensive distribution network on three continents. 

 For more information
on the transaction, visit www.GlobalHealthcareLeader.com. 
 “The combination of McKesson and Celesio will create a leading global healthcare
services platform that will advance our customers’ ability to deliver better, more efficient healthcare solutions,” said John H. Hammergren, chairman and chief executive officer, McKesson Corporation. “The healthcare industry is
evolving rapidly, marked by convergence between segments and increased globalization. With today’s announcement, we will bring together the strengths and expertise of each company to address global healthcare challenges.” 

Mr. Hammergren added: “We are looking forward to working with Celesio’s management team and employees to provide our customers with more efficient
delivery of healthcare products and services around the world. Our customers – from community pharmacies to major hospital networks – will benefit from the increased scale, supply chain expertise and sourcing capabilities of the combined
company, together with enhanced access to innovative technology and business services.” 
 After completion of the transaction, McKesson and Celesio
expect to maintain their own brands and continue to support customers through existing channels. 
 “The agreements announced today with McKesson
represent an exciting new chapter for Celesio,” said Marion Helmes, speaker of the Celesio AG management board and chief financial officer. “This transaction is about growth, it positions our operations for success and brings benefits for
all Celesio stakeholders. This combination allows two market leaders with complementary geographic footprints to work together in an increasingly global market segment.” 

Ms. Helmes added: “Both companies have a long history of leadership in the pharmaceutical wholesale and retail pharmacy industries, and our mission and
values are very similar to McKesson’s. We believe that our employees, all of whom are passionate about the important role they play in the delivery of quality healthcare services, will benefit from being part of an even stronger international
group.” 

  

 The operations of Celesio will be part of McKesson’s Distribution Solutions segment, headed by Paul C.
Julian, executive vice president and group president, who commented: “We are looking forward to welcoming the management team and employees of Celesio. McKesson and Celesio share a culture of respect for our customers and for the employees who
serve them every day. The business leaders in McKesson and Celesio have built relationships with customers over many years and have a deep understanding of their own unique markets. We look forward to supporting Celesio and their business leaders as
they implement their currently planned strategy for growth, and ultimately aligning our organizations more closely in the areas where we can deliver further value for our customers and manufacturing partners.” 

The combined group is expected to have annual revenues in excess of $150 billion(€111 billion)*, approximately 81,500 employees worldwide and operations
in more than 20 countries. McKesson and Celesio deliver to approximately 120,000 pharmacy and hospital locations on a daily basis in the U.S., Canada, Europe and Brazil, including more than 11,000 pharmacies that are either owned or are part of a
strategic banner or franchise network of community pharmacies. 
 Transaction structure 

Under the terms of a share purchase agreement between McKesson and Franz Haniel & Cie. GmbH (“Haniel”), the majority shareholder in Celesio,
McKesson has agreed to acquire Haniel’s stake in Celesio, currently representing 50.01% of the total outstanding shares of the company. The share purchase agreement has been approved by McKesson’s Board of Directors and Haniel’s
Supervisory Board. 
 McKesson has also entered into a business combination agreement with Celesio which outlines the key parameters that will facilitate
the combination of both companies and has been approved by McKesson’s Board of Directors and Celesio’s Supervisory Board. The Management Board and the Supervisory Board of Celesio welcome the takeover offer and the members of the
Management Board intend to accept the takeover offer for any Celesio shares held by them. 

  

 McKesson will launch parallel tender offers for Celesio’s publicly-traded shares at €23 per share and
its outstanding convertible bonds at a price corresponding to the value of the underlying shares implied by a €23 per share offer price, which equals €53,117.78 per bond for Celesio’s convertible bond due 2014 (principal amount of
€50,000) and €120,798.32 per bond for Celesio’s convertible bond due 2018 (principal amount of €100,000). McKesson expects the tender offers to commence during McKesson’s fiscal third quarter of 2014, ending December 31,
2013, and conclude in McKesson’s fiscal fourth quarter of 2014, but no earlier than January 17, 2014. 
 The share purchase from Haniel and the tender
offers are subject to certain closing conditions, including regulatory approvals and the acquisition by McKesson of a minimum of 75% of the shares of Celesio on a fully diluted basis. 

Upon the successful completion of the tender offers, McKesson will consolidate the financial results of Celesio, and McKesson’s earnings will reflect its
proportionate share of Celesio’s earnings. McKesson expects to complete the tender offers in its fiscal fourth quarter of 2014, ending March 31, 2014, and expects to complete the required steps to obtain operational control of Celesio during
McKesson’s fiscal 2015. 
 Financial details 
 By
the fourth year following the completion of the required steps to obtain operational control of Celesio, McKesson expects to realize annual synergies between $275 million and $325 million. 

McKesson expects to fund a portion of the transaction with cash and has put a bridge financing facility in place to fund the balance of the transaction. The
permanent financing structure will be determined by the timing and the number of Celesio shares and convertible bonds tendered in the tender offers. McKesson is committed to maintaining its status as an investment grade rated company in the final
permanent financing structure. 
 McKesson expects the transaction to be $1.00 to $1.20 accretive to adjusted earnings per share in the first twelve months
following the successful completion of the tender offers. The estimated range of accretion assumes McKesson achieves 100% ownership of the shares of Celesio at the conclusion of the tender offers. The final range of accretion will be dependent on
the actual result of the tender offers, the permanent financing structure, and the estimated operating results of the business. 

  

 Conference call details 

John Hammergren, chairman and chief executive officer of McKesson, will provide more information on the transaction on the company’s previously scheduled
earnings call on October 24, 2013 at 8:30am Eastern Time (5:30am Pacific Time / 2:30pm Central European Time). The dial-in number for individuals wishing to participate on the call is +1 719-234-7317. Erin Lampert, senior vice president,
Investor Relations, is the leader of the call, and the password to join the call is “McKesson.” The conference call will also be available live and archived on the company’s Investor Relations website at
www.mckesson.com/investors. 
  

	*	Exchange rate: 1 Euro = US$1.35 

 About McKesson Corporation 

McKesson Corporation, currently ranked 14th on the FORTUNE 500, is a healthcare services and information
technology company dedicated to making the business of healthcare run better. McKesson partners with payers, hospitals, physician offices, pharmacies, pharmaceutical companies and others across the spectrum of care to build healthier organizations
that deliver better care to patients in every setting. McKesson helps its customers improve their financial, operational, and clinical performance with solutions that include pharmaceutical and medical-surgical supply management,
healthcare information technology, and business and clinical services. For more information, visit www.mckesson.com. 
 About Celesio Group

 Celesio is a leading international wholesale and retail company and provider of logistics and services to the pharmaceutical and healthcare sectors.
The proactive and preventive approach ensures that patients receive the products and support that they require for optimum care. 
 With 38,000 employees,
Celesio operates in 14 countries around the world. Every day, the group serves over 2 million customers – at 2,200 pharmacies of its own and 4,100 participants in brand partnership schemes. With 132 wholesale branches, Celesio supplies 65,000
pharmacies and hospitals every day with up to 130,000 pharmaceutical products. The services benefit a patient pool of about 15 million per day. 

McKesson Corporation Contacts: 
 Investors and Financial
Media: 
 Erin Lampert, 415-983-8391 
 Erin.Lampert@mckesson.com

 Media: 
 Kris Fortner, 415-983-8352 

Kris.Fortner@mckesson.com 
 Celesio Group Contacts: 

Investor Relations: 
 Markus Georgi 

+49 711 5001-1208 
 investor@celesio.com

  

 Creditor Relations: 

Marcus Hilger 
 +49 711 5001-552 

finance@celesio.com 
 Media: 

Marc Binder, +49 711 5001-380 
 media@celesio.com 

Rainer Berghausen, +49 711 5001-549
 media@celesio.com 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OF SUCH JURISDICTION. 
 Disclaimer 

This press release is for information purposes only and does not constitute an invitation to make an offer to sell any shares in Celesio AG
(“Celesio Shares”), a company organized under the laws of Germany (“Celesio”), or any convertible bonds issued by Celesio (“Convertible Bonds”). This press release does not constitute an
offer to purchase Celesio Shares or Convertible Bonds and is not for the purposes of making any representations or entering into any other binding legal commitments. 

An offer to purchase Celesio Shares or Convertible Bonds will be solely made by the respective offer document which is to be published in due course and
is exclusively subject to such offer document’s terms and conditions. The terms and conditions contained in such offer document may differ from the general information described in this press release. 

The terms and conditions of the offer in relation to the Celesio Shares (“Takeover Offer”) will be published in the offer document for the
Takeover Offer only after the permission by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, BaFin) has been obtained. Investors and shareholders of Celesio are strongly advised
to read the relevant documents regarding the Takeover Offer published by Dragonfly GmbH & Co. KGaA (“Dragonfly”), a wholly owned subsidiary of McKesson Corporation (“McKesson”), which will make the
Takeover Offer, when they become available because they will contain important information. Investors and shareholders of Celesio will be able to receive these documents, when they become available, at the website
www.GlobalHealthcareLeader.com. Upon publication, the offer document for the Takeover Offer will also be available free of charge at a specified location and will be mailed to investors and shareholders of Celesio free of charge upon request.

 The terms and conditions of the offers in relation to the Convertible Bonds (“Bond Offers” and together with the Takeover Offer, the
“Offers”) will be published in the offer document for the Bond Offers on or about the time as the offer document for the Takeover Offer will be published. The Bond Offers will not be subject to the German Securities Acquisition and
Takeover Act (Wertpapiererwerbs- und Übernahmegesetz, (“WpÜG”)) and will not be reviewed by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht,
BaFin). Investors and holders of Convertible Bonds are strongly advised to read the relevant documents regarding the Bond Offers published by Dragonfly, which will make the Bond Offers, when they become available because they will contain
important information. Investors and holders of Convertible Bonds will be able to receive these documents, when they become available, at the website www.GlobalHealthcareLeader.com. Upon publication, the offer document for the Bond Offers
will also be available free of charge at a specified location and will be mailed to investors and holders of Convertible Bonds free of charge upon request. 

Shareholders of Celesio and holders of Convertible Bonds are strongly recommended to seek independent advice, where appropriate, in order to reach an informed
decision in respect of the content of the offer documents and with regard to the Takeover Offer or the Bond Offers. 

  

 The Offers will be issued exclusively under the laws of the Federal Republic of Germany, the Takeover Offer
especially under the WpÜG and the Regulation on the Content of the Offer Document, Consideration for Takeover Offers and Mandatory Offers and the Release from the Obligation to Publish and Issue an Offer (“WpÜG Offer
Regulation”), and certain applicable provisions of U.S. securities law. The Offers will not be executed according to the provisions of jurisdictions (including the jurisdictions of Australia and Japan) other than those of the Federal
Republic of Germany and certain applicable provisions of U.S. securities law. Thus, no other announcements, registrations, admissions or approvals of the Offers outside the Federal Republic of Germany will be filed, arranged for or granted. The
shareholders of Celesio and holders of Convertible Bonds cannot rely on having recourse to provisions for the protection of investors in any jurisdiction other than such provisions of the Federal Republic of Germany. Any contract that will be
concluded on the basis of the Offers will be exclusively governed by the laws of the Federal Republic of Germany and will to be interpreted in accordance with such laws. 

Neither McKesson nor Dragonfly have approved the publication, sending, distribution, or dissemination of this press release or any other document associated
with the Offers by third parties outside the Federal Republic of Germany. Neither McKesson nor Dragonfly nor persons acting in concert with McKesson or Dragonfly within the meaning of Section 2 para. 5 sentence 1 and sentence 3 WpÜG are in any
way responsible for the compliance of the publication, sending, distribution, or dissemination of this press release or any other document associated with the Offers by a third party outside of the Federal Republic of Germany to any jurisdiction
with legal provisions other than those of the Federal Republic of Germany. 
 The publication, sending, distribution or dissemination of this press release
in certain jurisdictions other than the Federal Republic of Germany may be governed by laws of jurisdictions other than the Federal Republic of Germany in which the publication, sending, distribution or dissemination are subject to legal
restrictions. Persons who are not resident in the Federal Republic of Germany or who are for other reasons subject to the laws of other jurisdictions should inform themselves of, and observe, those. 

This press release is not for release, publication or distribution, in whole or in part, in, into or from any jurisdiction where to do so would constitute
a violation of the relevant laws of such jurisdiction. 
 Forward-looking Statements 

This press release includes “forward-looking statements” within the meaning of Section 27A of the U.S. Securities Act of 1933 and
Section 21E of the U.S. Securities Exchange Act of 1934 (the “Exchange Act”), as amended, that are subject to risks and uncertainties and other factors. All statements other than statements of historical fact are statements
that could be deemed forward-looking statements. 
 These statements do not represent facts and may be characterized by words such as “expect”,
“believe”, “estimate”, “intend”, “aim”, “assume” or similar expressions. Such statements express the intentions, opinions, or current expectations of McKesson, the persons acting in concert with
McKesson pursuant to Section 2 para. 5 sentence 1 and sentence 3 of WpÜG and Celesio with respect to possible future events, e.g., regarding possible consequences of the Takeover Offer and the Bond Offers for McKesson or Celesio, for those
shareholders of Celesio who choose not to accept the Takeover Offer, for those holders of Convertible Bonds who choose not to accept the Bond Offers or for future financial results of McKesson or Celesio. Such forward-looking statements are based on
current plans, estimates and forecasts which McKesson, the persons acting in concert with McKesson pursuant to section 2 para. 5 sentence 1 and sentence 3 of WpÜG and Celesio have made to the best of their knowledge, but which do not claim to
be correct in the future. Forward-looking statements are subject to risks and uncertainties that are difficult to predict and generally cannot be influenced by McKesson, the persons acting in concert with McKesson within the meaning of Section 2
para. 5 sentence 1 and sentence 3 of WpÜG or Celesio. The forward-looking statements contained in this press release could turn out to be incorrect and/or future events and developments could considerably deviate from the forward-looking
statements contained in this press release. No assurances can be given that the forward-looking statements in the offer documents in relation to the Takeover Offer or the Bond Offers which are yet to be published or any other document associated
with the Takeover Offer or the Bond Offers will be realized. Subject to compliance with applicable law and regulations, neither McKesson nor Dragonfly intend to update these forward-looking statements or to undertake any obligation to do so. 

  

 If you are a resident of the United States, please read the following: 

The Offers will be made for the securities of a non-U.S. company and will be subject to the disclosure and procedural laws, standards and practices of
jurisdictions other than the U.S., although are intended to be made in the United States in reliance on, and compliance with, Section 14(e) of the Exchange Act and Regulation 14E thereunder, as exempted thereunder by Rule 14d-1(c). 

In accordance with the intended Offers, McKesson, Dragonfly, certain affiliated companies and the nominees or brokers (acting as agents) may make certain
purchases of, or arrangements to purchase, Celesio Shares and Convertible Bonds outside the Offers also during the period in which the Offers remain open for acceptance. If such purchases or arrangements to purchase are made they will be made
outside the United States and will comply with applicable law, including the Exchange Act. 

  

 ANNEX 2.5 (a) – Required Merger Control Filings 

 

			
	 Jurisdiction
	  	 Competent authority

	 Austria
	  	 Federal Competition Authority

(Bundeswettbewerbsbehörde)
 Praterstraße 31,
1020 Vienna
 Austria

		
	 Ireland
	  	 The Competition Authority
 14 Parnell
Square
 Dublin 1
 Ireland

		
	 Slovenia
	  	 Slovenian Competition Protection Agency

Kotnikova 28
 SI-1000 Ljubljana

Slovenia

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