Cencora Announces Purchase of $400 Million in Stock Back from Walgreens

Wednesday, 22 May 2024, 22:06
In a significant move, Cencora has reached an agreement to repurchase approximately $400 million worth of stock from Walgreens Boots Alliance. This transaction marks the second instance of Walgreens reducing its stake in Cencora this year, reflecting strategic efforts to enhance financial liquidity and reduce debt. The deal signals potential implications for both companies in the evolving financial landscape, underscoring the importance of portfolio optimization and capital management.
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Cencora Announces Purchase of $400 Million in Stock Back from Walgreens

Cencora Acquires $400 Million Stock Back from Walgreens

Cencora has agreed to buy about $400 million in stock back from Walgreens Boots Alliance, the second time the pharmacy chain has reduced its stake in the company this year as it looks to free up cash to pare down debt.

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.

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