Cencora, Inc. announced on February 6, 2025, an agreement to repurchase approximately $50 million of its common stock from Walgreens Boots Alliance Holdings LLC. This repurchase is being made under Cencora’s existing share repurchase program.
Concurrently, Walgreens Boots Alliance (WBA) sold shares of Cencora common stock in an unregistered block trade for approximately $265 million, in addition to the $50 million repurchase by Cencora. This action reduced WBA's ownership of Cencora's common stock from approximately 10% to approximately 6%.
The reduction in WBA's stake and Cencora's share repurchase are significant capital allocation events. WBA stated the proceeds would be used primarily for debt paydown and general corporate purposes, while Cencora's repurchase will hold the shares in treasury.
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