Walgreens Boots Alliance, Inc. (NASDAQ: WBA) has announced that its shareholders have approved the acquisition of the company by entities affiliated with Sycamore Partners Management, L.P. The preliminary results indicate that approximately 96% of votes cast at the special meeting were in favor of the merger agreement proposal, with approximately 95% of unaffiliated shareholders voting in favor as well.
Under the terms of the merger agreement, WBA shareholders will receive $11.45 per share in cash at closing, along with a non-transferable divested asset proceeds right to receive up to an additional $3.00 in cash per share from the future monetization of WBA’s debt and equity interests in VillageMD, which includes the Village Medical, Summit Health, and CityMD businesses.
The transaction is expected to close in the third or fourth quarter of calendar year 2025, subject to customary closing conditions and regulatory approvals.
In fiscal 2024, WBA scored 100% on the Disability Equality Index for disability inclusion. The company employs approximately 312,000 people and operates in eight countries, with consumer brands including Walgreens, Boots, Duane Reade, No7 Beauty Company, and Benavides.
WBA's financial advisor is Centerview Partners, with Kirkland & Ellis LLP serving as legal advisor and Ropes & Gray LLP acting as healthcare regulatory counsel. Morgan Stanley & Co. LLC also provided financial advice and a fairness opinion to the WBA board of directors.
More information about Walgreens Boots Alliance is available at www.walgreensbootsalliance.com. As a result of these announcements, the company's shares have moved -0.35% on the market, and are now trading at a price of $11.52. If you want to know more, read the company's complete 8-K report here.
