Walgreen Boots Alliance sells 6 million shares in AmerisourceBergen Corporation

THE WHAT? Walgreens Boots Alliance (WBA) has sold 6 million shares in AmerisourceBergen Corporation, with the proceeds of US$900 million going to the company. 

THE DETAILS The common stock pursuant to Rule 144 was sold at a price of US$150 per share, with WBA’s ownership of AmerisourceBergen’s common stock decreasing from approximately 28.1 percent to approximately 25.2 percent following the sale. 

According to WBA, “The sale has no impact to the long-term partnership between the two companies. Walgreens Boots Alliance remains fully committed to the strategic, mutually beneficial relationship with AmerisourceBergen, which has been a strong and trusted partner since 2013. Chief Operating Officer, International of Walgreens Boots Alliance, Ornella Barra, will continue to serve on AmerisourceBergen’s Board of Directors.”

THE WHY? The proceeds of the sale will be used primarily for debt paydown and the continued support of the WBA’s strategic priorities. 

WBA Chief Executive Officer Rosalind Brewer said: “Walgreens Boots Alliance and AmerisourceBergen will continue our very productive collaboration, creating significant value for both companies. We’ve taken the opportunity to monetize holdings at this time to realize a strong return on our investment, while complementing our other actions to optimize our capital allocation. Today’s action enhances our balance sheet and is consistent with our efforts to generate value for our shareholders.”