Walgreens sells bulk of Alliance Healthcare to AmerisourceBergen
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Image of the Walgreens logo at a location in Washington, D.C. Walgreens Boots Alliance said Wednesday it is selling its Alliance Healthcare business to AmerisourceBergen. Photo by Billie Jean Shaw/UPI
Jan. 6 (UPI) Walgreens Boots Alliance said Wednesday it has sold the bulk of its Alliance Healthcare business to AmerisourceBergen Corp. for nearly $6.5 billion.
The deal includes $6.275 billion in cash along with $2 million shares of AmerisourceBergen common stock. The two companies have had ties since 2013. Walgreens holds 30% of AmerisourceBergen stock.
Advertisement This deal will enable significant value creation for both companies and will generate new synergies in addition to those already captured, Stefano Pessina, executive vice chairman and CEO of Walgreens Boots Alliance, said in a statement. It is a logical step following the success of our long-term strategic relationship with AmerisourceB
Walgreens Boots Alliance is to sell the majority of Alliance Healthcare to US drug wholesaler AmerisourceBergen
Walgreens Boots Alliance (WBA) has done a $6.5billion (£4.8billion) deal to sell most of its Alliance Healthcare wholesale and distribution arm.
The Boots owner agreed a price for the business, previously called Alliance Unichem, to US drug wholesaler Amerisource Bergen.
The buyer will acquire the majority stake for £6.3billion in cash and 2m Amerisource Bergen shares.
WBA told investors yesterday that the sale will allow it to increase its focus on its core retail pharmacy business.
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