Hedge fund ups the ante in game of chicken with McKesson

The likelihood of McKesson ($MCK) completing its $8.4 billion takeover of German drug retailer Celesio quickly and easily took a hit last week when U.S. hedge fund Elliott International raised its stake in the acquisition target. Elliott has a history of taking stakes in companies that are about to be bought in an attempt to push up the price. The hedge fund is now nearing the point at which it would own enough of Celesio to block the deal. "It's a big game of chicken. Elliott holds the keys," an investor told Reuters. Item