PSS sold to San Fransico based McKesson for 2.1 billion

[iluvolives]

http://www.bloomberg.com/news/2012-10-25/mckesson-agrees-to-buy-pss-world-medical-fr-2-1-billion.html



McKesson Corp., the largest U.S. drug distributor, agreed to buy PSS World Medical, Inc. for about $2.1 billion to expand in providing medical supplies and services.
The $29-a-share agreement to purchase the Jacksonville, Florida-based company also includes the assumption of PSS World (PSSI)’s debt, San Francisco-based McKesson said in a statement today.

[JaxJag]

So i guess its safe to say that they will not be relocating downtown. Haha

[thelakelander]

I think that was safe to say before the McKesson announcement.  Hopefully, this wasn't the big tenant COJ hopes Parador could land with the subsidized garage they're getting.

[fsquid]

I'm selling that stock at the open.  Nice premium!

[Tacachale]

Bummer. The way it goes, I guess.

[Doctor_K]

Yea - that hit us like a bombshell this morning.

And Lake was right - they were never going to seriously consider moving downtown.  WGV was more attractive.  That's speculation on my part, but it was more likely than downtown.

[Captain Zissou]

McKesson on the whole is an enormous company, but they have a $2B division focusing on physician and senior care distribution.  PSS will merge with them, making a $4B company.  The current McKesson division is in Richmond Virginia.  There's no telling where either office will end up when this closes, but McKesson has a history of leaving acquisitions to continue to operate largely as stand alone businesses.

[Doctor_K]

McKesson on the whole is an enormous company, but they have a $2B division focusing on physician and senior care distribution.  PSS will merge with them, making a $4B company.  The current McKesson division is in Richmond Virginia.  There's no telling where either office will end up when this closes, but McKesson has a history of leaving acquisitions to continue to operate largely as stand alone businesses.

Oh yea! I forgot you're here too, Ziss.

That'd be cool if we were left standing.  Still doesn't mean we'd end up downtown - lol.

[Captain Zissou]

McKesson on the whole is an enormous company, but they have a $2B division focusing on physician and senior care distribution.  PSS will merge with them, making a $4B company.  The current McKesson division is in Richmond Virginia.  There's no telling where either office will end up when this closes, but McKesson has a history of leaving acquisitions to continue to operate largely as stand alone businesses.

Oh yea! I forgot you're here too, Ziss.

That'd be cool if we were left standing.  Still doesn't mean we'd end up downtown - lol.

Yeah, Doc, 4th floor represent!  The downtown thing was never going to happen, but after what the city did with Bi-Lo they may want to enter talks with McKesson to see if we can't pull some more of their employees down here.  Man I wish I owned some more shares of PSSI this morning!

[Dog Walker]

I remember when they started in a little rented warehouse down the street from my offices.  What an incredible local success story!

[thelakelander]

PSS World Medical's real estate decision on hold for now

http://www.bizjournals.com/jacksonville/blog/2012/10/pss-world-medical-incs-real-estate.html

[David]

@ Captain Z.  Sounds like you guys are in the same boat as my company who's right down the street from you - Homeward residential (formerly American Home Mortgage Servicing, formerly Option One)

Ocwen bought our company out for 750 million at the beginning of October.  They have a HUGE presence in India so we're not too sure what'll happen with our site here in Jax (400+) and over in Dallas. We're hoping for the same thing, they'll leave us operating as a stand alone business.

[David]

It looks like everything's up in the air with PSS WM for now. I had an interview lined up with them but now I’m being told they're in a hiring freeze until everything settles from the acquisition. (Or they just don't want to hire me!)

Either way, this corner of JTB and Belfort is like an uncertainty vortex for Jacksonville companies. Homeward/AHMSI was bought last year and their Jax office is closing. I hope PSS has better luck.

[ben says]

^ British Airways is closing, too 

[MusicMan]

"After what the city did with Bi-Lo...."  Someone please explain, what did the city do with Bi-Lo?