Health and Healthcare
Walgreens Gets To Complete $7 Billion Dollar Alliance Boots Investment
Published:
Last Updated:
Walgreen Co. (NYSE: WAG) has announced that it has completed its investment in Alliance Boots, an international pharmacy-led health and beauty group. The deal has received all regulatory approvals despite the size of the deal.
Today’s announcement said, “The Walgreens investment consists of approximately $4.0 billion in cash and 83.4 million shares of Walgreens common stock in exchange for a 45% equity stake in Alliance Boots. Walgreens has the option to proceed to a full combination in approximately three years’ time by acquiring the remaining 55% of Alliance Boots.”
With a $35.80 share price today, the shares included come to a value of just under $3 billion. That in turn puts the value today of about $7 billion.
Today’s news comes shortly after Walgreen and Express Scripts Holding Company (NASDAQ: ESRX) settled their prescription fight. While this is not quite market-moving news for Walgreen, the deal does show that regulatory agencies will continue to allow large deals even by the most dominant of players in the retail drug sales space as long as they are not evident to be highly monopolistic on the surface.
JON C. OGG
100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
