Following shareholder approval, Walgreens and Alliance Boots complete step 2 of merger

DEERFIELD, Ill. — Walgreens and Alliance Boots last week completed Step 2 of their strategic partnership to form Walgreens Boots Alliance, finalizing the two-step merger launched in 2012.

 

Under a reorganization merger agreement approved earlier in the week by Walgreens shareholders, Walgreens is now a wholly owned subsidiary of Walgreens Boots Alliance. Existing shares of Walgreens common stock were converted automatically into shares of Walgreens Boots Alliance common stock on a one-for-one basis. Walgreens Boots Alliance common stock will trade on the Nasdaq stock exchange under the symbol "WBA."

 

The new global enterprise combines Walgreens, the largest drug store chain in the USA; Boots, the market leader in European retail pharmacy; and Alliance Healthcare, the leading international wholesaler and distributor. Together, Walgreens Boots Alliance spans more than 25 countries, with over 12,800 stores, over 370,000 employees and more than 340 pharmaceutical distribution centers serving more than 180,000 pharmacies and other points of care. 

 

Walgreens Boots Alliance will be domiciled in the United States and headquartered in Deerfield, Ill.

 

Overseen by an international management team, Walgreens Boots Alliance comprises three Divisions: Retail Pharmacy USA, Retail Pharmacy International and Pharmaceutical Wholesale. In addition, the company operates a number of global cross divisional functions, including Global Brands and a Global Pharmacy Market Access group.

 

Walgreens and Alliance Boots announced their two-step strategic transaction in June 2012. They completed Step 1 in August 2012, when Walgreens invested approximately $4 billion in cash and 83.4 million shares of its common stock in exchange for a 45% equity ownership stake in Alliance Boots. With today's announcement of the completion of Step 2, Walgreens has acquired the remaining 55% of Alliance Boots in exchange for approximately $5.3 billion in cash and 144.3 million shares of stock.