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THE DEAL: Medical supplies distributor McKesson Corp. will pay $560 million in cash to acquire US Oncology, a company that provides drugs and administrative services to cancer centers.

CANCER SERVICES: US Oncology serves 1,000 doctors in 38 states. McKesson said the combined company will serve more than 3,000 cancer specialists.

TAKING ON DEBT: In addition to what it is paying for the company's shares, McKesson said it will assume $1.6 billion of US Oncology's debt, which will be prepaid or refinanced.

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