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Walgreens Finally Goes Private – Merger Arbitrage Mondays

  • March 10, 2025

Walgreens Boots Alliance, Inc. (WBA): $11.39

Market Cap: $9.84 B

Deal Size: $23.7 B

Walgreens Boots Alliance entered a merger agreement on March 6, 2025, to be taken private by Sycamore Partners in a deal valued at approximately $23.7 billion, bringing nearly a century of public trading for the U.S. pharmacy giant to a close.

Under the terms of the agreement, Walgreens Boots Alliance shareholders will receive total consideration consisting of $11.45 per share in cash at the closing of the Sycamore transaction and one non-transferable right (a Divested Asset Proceed Right or DAP Right) to receive up to $3.00 in cash per WBA share from the future monetization of WBA’s debt and equity interests in VillageMD.

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