The Firm is representing Walgreens Boots Alliance, Inc. (NASDAQ: WBA) in connection with its acquisition of Rite Aid Corporation (NYSE: RAD) for $9 in cash per share, for a total enterprise value of approximately $17.2 billion including acquired net debt. Walgreens Boots Alliance expects to finance the transaction through a combination of existing cash, assumption of existing Rite Aid debt and issuance of new debt.
Walgreens Boots Alliance is a global pharmacy-led, health and wellbeing enterprise, which was created through the combination of Walgreens and Alliance Boots in December 2014. The company employs more than 370,000 people in more than 25 countries, and is the largest retail pharmacy, health and daily living destination in the US and Europe; it’s portfolio includes Walgreens, Duane Reade, Boots and Alliance Healthcare. Rite Aid is one of the leading drugstore chains in the US with nearly 4,600 stores in 31 states and DC, and fiscal 2015 revenues of $26.5 billion.
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