AmerisourceBergen Announces Common Share Repurchase From Walgreens Boots Alliance

Rhea-AI Summary

AmerisourceBergen Corporation (NYSE: ABC) has announced a share repurchase agreement with Walgreens Boots Alliance Holdings LLC, involving approximately $200 million of its common stock. The repurchase will occur at the same price per share as Walgreens' sale, aligning with AmerisourceBergen's existing share buyback program. This strategic move aims to enhance shareholder value by reducing the number of outstanding shares. AmerisourceBergen has established itself as a key player in healthcare, generating over $200 billion in annual revenue.

Positive

• Share repurchase of approximately $200 million enhances shareholder value.
• Reduction of outstanding shares may positively impact EPS.

Negative

• None.

CONSHOHOCKEN, Pa.--(BUSINESS WIRE)-- AmerisourceBergen Corporation (NYSE: ABC) today announced that it has agreed to repurchase shares of its common stock from Walgreens Boots Alliance Holdings LLC in the amount of approximately $200 million in concurrence with Walgreens Boots Alliance’s sale of AmerisourceBergen shares pursuant to Rule 144.

AmerisourceBergen intends to repurchase shares from Walgreens Boots Alliance at the price per share equal to the price in the Rule 144 sale. The concurrent share repurchase will be made under AmerisourceBergen’s share repurchase program, and the repurchased shares will be held in treasury.

About AmerisourceBergen

AmerisourceBergen fosters a positive impact on the health of people and communities around the world by advancing the development and delivery of pharmaceuticals and healthcare products. As a leading global healthcare company, with a foundation in pharmaceutical distribution and solutions for manufacturers, pharmacies and providers, we create unparalleled access, efficiency and reliability for human and animal health. Our approximately 44,000 global team members power our purpose: We are united in our responsibility to create healthier futures. AmerisourceBergen is ranked #10 on the Fortune 500 with more than $200 billion in annual revenue.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221208006044/en/

Bennett S. Murphy

Senior Vice President, Head of Investor Relations & Treasury

610-727-3693

bmurphy@amerisourcebergen.com

Source: AmerisourceBergen Corporation

FAQ

What is the purpose of AmerisourceBergen's recent share repurchase?

The share repurchase aims to enhance shareholder value by reducing the number of outstanding shares.

How much stock is AmerisourceBergen repurchasing from Walgreens?

AmerisourceBergen is repurchasing approximately $200 million worth of its common stock.

What is the expected impact of the share repurchase on AmerisourceBergen's stock price?

The repurchase is expected to reduce the number of outstanding shares, potentially increasing the stock price and EPS.

When will AmerisourceBergen's share repurchase take place?

The repurchase will occur concurrently with Walgreens' sale of shares, following Rule 144.