Walgreens Boots Alliance Sells Shares Of Cencora For $400M Proceeds; Ownership Decrease From 13% To 12%
Portfolio Pulse from Benzinga Newsdesk
Walgreens Boots Alliance (WBA) has sold shares of Cencora (COR) for $400 million, reducing its ownership from 13% to 12%. The proceeds will be used for debt paydown and general corporate purposes. The sale does not affect the long-term partnership between the two companies.
May 22, 2024 | 9:40 pm
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NEUTRAL IMPACT
Walgreens Boots Alliance sold $400M worth of Cencora shares, reducing its ownership from 13% to 12%. The sale does not impact the long-term partnership between the two companies.
The reduction in ownership by Walgreens Boots Alliance is relatively small and does not affect the long-term partnership between the two companies. Therefore, the impact on Cencora's stock price is expected to be neutral in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 80
POSITIVE IMPACT
Walgreens Boots Alliance sold $400M worth of Cencora shares, reducing its ownership from 13% to 12%. The proceeds will be used for debt paydown and general corporate purposes.
The sale of shares will provide Walgreens Boots Alliance with $400M in proceeds, which will be used to pay down debt and for general corporate purposes. This is likely to be seen positively by investors as it strengthens the company's financial position.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100