Company Website:
http://www.walgreensbootsalliance.com
DEERFIELD, Ill. -- (Business Wire)
Walgreens Boots Alliance, Inc. (Nasdaq: WBA) today announced it has
received notice of an unsolicited mini-tender offer by TRC Capital
Corporation to purchase up to 2 million shares of Walgreens Boots
Alliance common stock at a price of $67.88 per share in cash. TRC
Capital’s offering price is 4.38 percent below the closing price per
share of Walgreens Boots Alliance common stock on 10 November 2017, the
last trading day prior to the date of the offer to purchase, and 4.73
percent below the closing price of Walgreens Boots Alliance common stock
on 17 November 2017, the last trading day prior to the date of this news
release. The offer is for approximately 0.198 percent of the common
shares outstanding as of 30 September 2017.
Walgreens Boots Alliance does not endorse TRC Capital’s unsolicited
mini-tender offer and recommends that stockholders do not tender their
shares in response to the offer because the offer is at a price below
the current market price for Walgreens Boots Alliance shares and is
subject to numerous conditions. Walgreens Boots Alliance is not
associated in any way with TRC Capital, its mini-tender offer or the
offer documentation.
TRC Capital has made many similar mini-tender offers for shares of other
companies. Mini-tender offers seek to acquire less than 5 percent of a
company’s outstanding shares, thereby avoiding many disclosure and
procedural requirements of the U.S. Securities and Exchange Commission
(SEC) that apply to offers for more than 5 percent of a company’s
outstanding shares. As a result, mini-tender offers do not provide
investors with the same level of protection as provided by larger tender
offers under U.S. securities laws.
The SEC has cautioned investors that some bidders making mini-tender
offers at below-market prices are “hoping that they will catch investors
off guard if the investors do not compare the offer price to the current
market price.” More on the SEC’s guidance to investors on mini-tender
offers is available at https://www.sec.gov/reportspubs/investor-publications/investorpubsminitendhtm.html.
Walgreens Boots Alliance urges investors to obtain current market
quotations for their shares, review the conditions to the offer, consult
with their broker or financial advisor and exercise caution with respect
to TRC Capital’s offer. Walgreens Boots Alliance recommends that
stockholders who have not responded to TRC Capital’s offer take no
action. Stockholders who have already tendered their shares may withdraw
them at any time prior to the expiration of the offer by following the
procedures described in TRC Capital’s offering documents. The offer is
currently scheduled to expire at 12:01 a.m. New York City time on
Wednesday 13 December 2017. TRC Capital may extend the offering period
at its discretion.
Walgreens Boots Alliance encourages brokers and dealers, as well as
other market participants, to review the SEC’s letter regarding
broker-dealer mini-tender offer dissemination and disclosure at https://www.sec.gov/divisions/marketreg/minitenders/sia072401.htm.
Notes to Editors:
About Walgreens Boots Alliance
Walgreens Boots Alliance (Nasdaq: WBA) is the first global pharmacy-led,
health and wellbeing enterprise. The company's heritage of trusted
health care services through community pharmacy care and pharmaceutical
wholesaling dates back more than 100 years.
Walgreens Boots Alliance is the largest retail pharmacy, health and
daily living destination across the U.S. and Europe. Walgreens Boots
Alliance and the companies in which it has equity method investments
together have a presence in more than 25* countries and employ more than
385,000* people. The company is a global leader in pharmacy-led, health
and wellbeing retail and, together with the companies in which it has
equity method investments, has more than 13,200* stores in 11* countries
as well as one of the largest global pharmaceutical wholesale and
distribution networks, with more than 390* distribution centers
delivering to more than 230,000** pharmacies, doctors, health centers
and hospitals each year in more than 20* countries. In addition,
Walgreens Boots Alliance is one of the world’s largest purchasers of
prescription drugs and many other health and wellbeing products.
The company’s portfolio of retail and business brands includes
Walgreens, Duane Reade, Boots and Alliance Healthcare, as well as
increasingly global health and beauty product brands, such as No7, Soap
& Glory, Liz Earle, Sleek MakeUP and Botanics.
The company ranks No. 1 in the Food and Drug Stores industry of Fortune
magazine's 2017 list of the World's Most Admired Companies.
More company information is available at www.walgreensbootsalliance.com.
* As of 31 August 2017, using publicly available information for
AmerisourceBergen.
** For 12 months ending 31 August 2017, using publicly available
information for AmerisourceBergen
(WBA-GEN)
View source version on businesswire.com: http://www.businesswire.com/news/home/20171120005370/en/
Contacts:
Walgreens Boots Alliance
Media Relations
USA / Michael
Polzin
+1 847 315 2935
or
International / Laura Vergani
+44
(0)207 980 8585
or
Investor Relations
Gerald
Gradwell and Ashish Kohli
+1 847 315 2922
Source: Walgreens Boots Alliance
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