Walgreens Boots Alliance sells shares of Cencora for $674M

Walgreens Boots Alliance (WBA) announced that it has sold shares of Cencora (COR) common stock pursuant to variable prepaid forward transactions executed in reliance on Rule 144 under the Securities Act of 1933, as amended, for current proceeds of approximately $424 million and, depending on the stock price at the time, potentially additional proceeds at maturity. In addition, and subject to the closing of the Rule 144 transaction, Walgreens Boots Alliance entered into a concurrent share repurchase by Cencora for proceeds of approximately $250 million. Walgreens Boots Alliance’s ownership of Cencora’s common stock has decreased as a result of the concurrent share repurchase by Cencora but remains at approximately 15%. The Company intends to use the proceeds primarily for debt paydown and general corporate purposes. The transaction is another decisive action to further simplify the Company’s portfolio, while improving cash management.