Walgreens Concludes Public Trading Era Following Landmark Acquisition

The stock market chapter for Walgreens Boots Alliance has officially closed. Sycamore Partners, a major private equity firm, has finalized its acquisition of the pharmacy chain, subsequently dividing the corporation into five separate, independently operated entities. Trading of WBA shares ceased immediately upon the deal’s completion.

Effective immediately, Mike Motz, previously the head of Staples US Retail, assumes the role of CEO for Walgreens. Former chief executive Tim Wentworth has transitioned to a position on the board of directors. The Pessina family, the company’s largest shareholders, have fully reinvested their entire 17 percent equity stake into the now-private enterprise.

The transaction, valued at a staggering $23.7 billion, involved Sycamore Partners paying $11.45 per share and assuming the company’s outstanding... Read more...