Walgreens Boots Alliance announced on Thursday that it has agreed to be acquired by private equity firm Sycamore Partners for $10 billion.
The price is a fraction of the $100 billion the pharmacy chain was worth a decade ago.
The companies have entered into an agreement under which Walgreens shareholders will receive $11.45 per share in cash at the closing of the Sycamore transaction, according to a press release.
The deal will also include a non-transferable right for shareholders to receive up to $3.00 in cash from the future monetization of Walgreens’s debt and equity interests in VillageMD, which includes Village Medical, Summit Health, and CityMD—the pharmacy chain’s primary care businesses.
The transaction is valued at up to $23.7 billion, including equity value, debt, and payouts, according to the companies. Walgreens’s common stock will be delisted from the Nasdaq Stock Market, and the company will transition to private ownership once the transaction is completed. […]
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