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AmerisourceBergen To Acquire Majority Of Walgreens Alliance Healthcare Businesses
WASHINGTON (dpa-AFX) - AmerisourceBergen Corp. (ABC) and Walgreens Boots Alliance, Inc. (WBA) announced Wednesday strategic agreements under which AmerisourceBergen will acquire the majority of Walgreens Alliance Healthcare businesses for about $6.5 billion, comprised of $6.275 billion in cash and 2 million shares of AmerisourceBergen common stock.
The cash consideration is subject to a customary working capital and net-debt adjustment. The transaction has been approved by the AmerisourceBergen and Walgreens Boots Alliance Boards of Directors.
AmerisourceBergen expects to fund the cash purchase price through a combination of cash on hand and new debt financing.
The transaction, which is expected to close by AmerisourceBergen s fiscal year-end 2021, is subject to the satisfaction of customary closing conditions, including receipt of required regulatory approvals. Walgreens Boots Alliance s operatio
Walgreens to sell drug wholesale business for $6.5 billion
Drugstore chains and other retailers were hit hard, particularly last spring, when the pandemic forced shoppers to stay home and away from their stores. Author: TOM MURPHY AP Health Writer Published: 12:30 PM EST January 6, 2021 Updated: 12:30 PM EST January 6, 2021
Walgreens Boots Alliance will sell its pharmaceutical wholesale business to AmerisourceBergen in a $6.5 billion cash and stock deal.
Pharmaceutical wholesalers essentially act as middlemen, purchasing drugs from manufacturers and then distributing them to customers like drugstore chains, hospitals and doctor s offices.
Walgreens said Wednesday that the deal will allow it to focus more on expanding its core retail pharmacy business which, like others, has been rattled by the COVID-19 pandemic.