Cencora (COR) Announces $50 Million Stock Repurchase

By Bobby Samwell • Tuesday, February 11 15:22 • Permanent Link

Cencora, Inc. (NYSE: COR) has announced a repurchase of its common stock from Walgreens Boots Alliance Holdings LLC, amounting to approximately $50 million. This agreement is in concurrence with Walgreens Boots Alliance's sale of Cencora shares pursuant to Rule 144 under the Securities Act of 1933, as amended.

The concurrent share repurchase will be made at the price per share equal to the price in the Rule 144 sale, and the repurchased shares will be held in treasury as part of Cencora's share repurchase program.

This repurchase comes as Walgreens Boots Alliance is simultaneously settling certain variable prepaid forward sale contracts with financial institutions and returning pledged Cencora shares to these institutions.

Despite this transaction, Walgreens Boots Alliance's remaining ownership of Cencora's common stock continues to be pledged to financial institutions to secure its obligations under other existing variable prepaid forward sale contracts.

Cencora, a leading global pharmaceutical solutions organization, has emphasized its commitment to improving the lives of people and animals around the world. The company's 46,000+ worldwide team members contribute to positive health outcomes through its purpose-driven approach. With more than $290 billion in annual revenue, Cencora is ranked #10 on the Fortune 500 and #18 on the Global Fortune 500.

For further details, the company has provided contact information for Bennett S. Murphy, Senior Vice President, Head of Investor Relations & Treasury. The market has reacted to these announcements by moving the company's shares 0.1% to a price of $246.53. For more information, read the company's full 8-K submission here.

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