- Walgreens Boots Alliance Inc (NASDAQ: NASDAQ:WBA) has sold 6.0 million shares of AmerisourceBergen Corp (NYSE: NYSE:ABC) at $150 per share.
- After the sale, Walgreens Boots Alliance's ownership of AmerisourceBergen's common stock decreased from approximately 28.1% to 25.2%.
- Chief Operating Officer, International of Walgreens Boots Alliance, Ornella Barra, will continue to serve on AmerisourceBergen's Board of Directors.
- WBA intends to use the $900 million proceeds to pay down debt and support its strategic priorities.
- 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."
- Price Action: WBA shares are down 0.21% at $43.26, and ABC is down 7.63% at $149.00 during the premarket session on the last check Thursday.
Read at Benzinga