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News Breaks | | | | March 19, 2013 | | 08:51 EDT |  | ABC, WAG | Walgreen granted right to buy stake in AmerisourceBergen
As part of the 10-year agreement betweenthe companies, Walgreens (WAG) and Alliance Boots together have been granted the right to purchase a minority equity position in AmerisourceBergen (ABC), beginning with the right to purchase up to 7% of the fully diluted equity of AmerisourceBergen in the open market. In addition, AmerisourceBergen has granted to Walgreens and Alliance Boots equity warrants exercisable for 16% in the aggregate of the fully diluted equity of AmerisourceBergen. The first tranche of warrants, representing 8% of the fully diluted equity of AmerisourceBergen, has a strike price of $51.50 and will be exercisable for a six-month period beginning in March 2016. The second tranche of warrants, also representing 8% of the fully diluted equity of AmerisourceBergen, has a strike price of $52.50 and will be exercisable for a six-month period beginning in March 2017. Walgreens will have the ability to appoint one director to AmerisourceBergen’s board upon Walgreens and Alliance Boots together acquiring a 5% equity stake, and a second director upon exercise in full of the first warrants. These new board seats will add to the company’s current nine-member board. The equity investment by Walgreens and Alliance Boots is subject to the receipt of customary regulatory approvals. | |
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News For ABC;WAG From The Last 14 Days Check below for free stories on ABC;WAG the last two weeks. |
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| May 20, 2013 | | 15:52 EDT |  | WAG | Walgreen downgraded to Market Perform from Outperform at Barrington
 Subscribe for More Information | | | May 17, 2013 | | 12:33 EDT | | ABC, WAG | AmerisourceBergen receives approval of Walgreens, Alliance Boots investment
AmerisourceBergen (ABC) announced that the parties have received regulatory approval of the previously disclosed agreement for Walgreen (WAG) and Alliance Boots GmbH to purchase an equity stake in the company. AmerisourceBergen continues to expect the new agreements to contribute an incremental $25B in revenues and approximately 20c in earnings per share in FY14, excluding the amortization of certain expenses related to the transaction and the warrants issued, certain non-recurring costs and a potential LIFO charge, and net of certain start up expenses. In addition, the company reiterated its expectations for financial performance for fiscal year 2013, which includes expected revenue growth in the 11%-13% range, and diluted earnings per share from continuing operations in the lower half of the range of $3.04 to $3.14, excluding certain expenses related to the relationship with Walgreens and Alliance Boots and the warrants issued, and the expected LIFO charge from onboarding of additional branded inventory. | | | May 14, 2013 | | 07:18 EDT |  | ABC | BofA/Merrill to host a conference
2013 Health Care Conference is being held in Las Vegas on May 14-16. | | | May 13, 2013 | | 08:32 EDT | | WAG | Walgreens extends CVS Caremark network provider agreement
Subscribe for More Information | | | 08:05 EDT | | ABC | Frazier Healthcare acquires AnderesonBrecon from AmerisourceBergen
Subscribe for More Information | | | 07:32 EDT | | ABC | AmerisourceBergen says divestiture of AndersonBrecon has no impact on guidance
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