AmerisourceBergen to Buy Alliance Healthcare From Walgreens Boots for $6.5 Billion
January 06 2021 - 7:51AM
Dow Jones News
By Colin Kellaher
AmerisourceBergen Corp. on Wednesday said it agreed to buy the
majority of Walgreens Boots Alliance Inc.'s Alliance Healthcare
businesses for about $6.5 billion.
Amerisource, a Valley Forge, Pa., provider of pharmaceutical
products, said it would pay $6.275 billion in cash and issue 2
million shares to Walgreens in exchange for European pharmaceutical
wholesaler Alliance.
Amerisource said the deal extends its distribution presence and
its global platform of higher-margin manufacturer services.
Walgreens, based in Deerfield, Ill., said it plans to increase its
focus on expanding its core retail pharmacy businesses.
Amerisource and Walgreens also agreed to extend and expand their
U.S. commercial agreements through 2029. Walgreens currently owns a
roughly 28% stake in Amerisource, according to FactSet.
Amerisource said it will fund the transaction, which it expects
to complete by the end of fiscal 2021, with cash on hand and new
debt financing.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
January 06, 2021 07:36 ET (12:36 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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