Cencora Announces $250M Common Share Repurchase From Walgreens Boots Alliance
Portfolio Pulse from Benzinga Newsdesk
Cencora, Inc. (NYSE:COR) announced a $250 million share repurchase from Walgreens Boots Alliance Holdings LLC. The repurchase will be made under Cencora's share repurchase program and the shares will be held in treasury.
August 01, 2024 | 10:23 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Walgreens Boots Alliance Holdings LLC is selling $250 million worth of Cencora shares. The sale is conducted under Rule 144 of the Securities Act of 1933.
The sale of Cencora shares by Walgreens Boots Alliance is a significant transaction but does not directly impact WBA's core operations. The impact on WBA's stock price is likely neutral in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 80
POSITIVE IMPACT
Cencora, Inc. (NYSE:COR) is repurchasing $250 million worth of its shares from Walgreens Boots Alliance. This move is part of Cencora's share repurchase program and the shares will be held in treasury.
The share repurchase indicates confidence in the company's future prospects and can lead to a positive short-term impact on the stock price due to reduced share count and increased earnings per share.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100