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BRIEF-Walgreens and Alliance Boots form strategic partnership
Tue, 19th Jun 2012 11:27
June 19 (Reuters) - Walgreen Co:
* Walgreens and Alliance Boots form strategic partnershi
global pharmacy-led, health and wellbeing enterprise
* Transaction expected to be substantially accretive to Walgreens net earnings
per diluted share in year one
* Says will invest approximately $6.7 billion in cash and stock
* Expects combined synergies across both companies to be between $100 million
and $150 million in the first year
* Will have option to proceed to a full combination by acquiring remaining 55%
of Alliance Boots in three years' time
* Says there are no plans for job reductions at either company as a result of
the transaction
* Says expects combined synergies across both companies to be between $100
million and $150 million in the first year
* Expects combined synergies across both companies to be$1 billion by the end
of 2016
* Says plans to finance cash payment deliverable at initial closing through
existing cash and new borrowings
* Deal is seen to be accretive to net EPS in first year following completion by
$0.23 to $0.27, excluding one-time costs
* Walgreens-completion of initial investment, subject to various regulatory
approvals, is expected to take place by September 1
((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780))
(For more news, please click here)
COPYRIGHT
Copyright Thomson Reuters 2012. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
* Walgreens and Alliance Boots form strategic partnershi
p to create the first
global pharmacy-led, health and wellbeing enterprise
* Transaction expected to be substantially accretive to Walgreens net earnings
per diluted share in year one
* Says will invest approximately $6.7 billion in cash and stock
* Expects combined synergies across both companies to be between $100 million
and $150 million in the first year
* Will have option to proceed to a full combination by acquiring remaining 55%
of Alliance Boots in three years' time
* Says there are no plans for job reductions at either company as a result of
the transaction
* Says expects combined synergies across both companies to be between $100
million and $150 million in the first year
* Expects combined synergies across both companies to be$1 billion by the end
of 2016
* Says plans to finance cash payment deliverable at initial closing through
existing cash and new borrowings
* Deal is seen to be accretive to net EPS in first year following completion by
$0.23 to $0.27, excluding one-time costs
* Walgreens-completion of initial investment, subject to various regulatory
approvals, is expected to take place by September 1
((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780))
(For more news, please click here)
COPYRIGHT
Copyright Thomson Reuters 2012. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
