Walgreens Boots Alliance has sold some AmerisourceBergen (NYSE:ABC) Corp’s shares for proceeds of $1 billion, the U.S. drugstore chain said on Thursday, further cutting its ownership in the drug distributor, by 3% to about 17%. Walgreens, which will remain AmerisourceBergen’ largest shareholder, said it would use the proceeds to pay down debt and to fund strategic priorities, including Walgreens-backed VillageMD’s $9 billion acquisition of urgent care provider Summit Health. Walgreens had earlier committed $3.5 billion, through an even mix of debt and equity, to support the deal, which was struck on Nov. 7. A day later, Walgreens said it cut its stake in AmerisourceBergen (ABC) to about 20% from about 26% though a public offering of 10 million ABC shares. The latest share sale includes $200 million that ABC will buy back from Walgreens under its share repurchase program, ABC said in a separate press release, adding these shares would be held in treasury. The share sale has no impact on the long-term partnership between the two companies, Walgreens said.
Nifty Seen Opening Above 17,400; Shree Cements In Focus
By Administrator_India Capital Sands Indian equity benchmarks are set to open higher as indicated by the Nifty futures traded on the Singapore Exchange. The Nifty futures on Singapore Exchange also known as the SGX Nifty futures rose 33 points to 17,424. Meanwhile, Asian shares fell on Wednesday as weak Chinese economic data reinforced worries about […]
Verizon, Amazon may invest over $4 billion in Vodafone Idea: Report
By Administrator_India Capital Sands U.S. wireless carrier Verizon Communications Inc and Amazon.com Inc may invest more than $4 billion for a stake in India’s Vodafone Idea Ltd, the Mint newspaper reported on Thursday, sending shares in the struggling Indian telecom firm up 10%. Vodafone Idea’s stake-sale talks had been paused pending the outcome of a court hearing […]
Global bonds tumble into their first bear market in a generation
The Bloomberg Global Aggregate Total Return Index of government and investment-grade corporate bonds has fallen more than 20% below its 2021 peak, the biggest drawdown since its 1990 inception. Under pressure from central bankers determined to quash inflation even at the cost of a recession, global bonds slumped into their first bear market in a […]