Form 4: Walgreens Boots Alliance Sells 1,859,390 Shares of Cencora in Private Transaction

Walgreens Boots Alliance sold 1,859,390 shares of Cencora in a private transaction on May 22, 2024, reducing its beneficial ownership.

Summary

• Walgreens Boots Alliance, Inc. (WBA) reported a change in beneficial ownership of Cencora, Inc. [COR] shares on May 22, 2024.
• WBA, through its indirect wholly-owned subsidiary Walgreens Boots Alliance Holdings LLC (WBA Holdings), sold 1,859,390 shares of Cencora common stock.
• The sale was a private transaction to the Issuer (Cencora) at a price of $215.1244 per share.
• Following the transaction, WBA's beneficial ownership of Cencora shares stands at 24,418,171.
• The shares were acquired in accordance with the Framework Agreement dated March 18, 2013.
• WBA Investments, Inc., a direct wholly-owned subsidiary of WBA, may also be deemed to beneficially own the securities.

Sentiment

Score: 5

Explanation: Neutral sentiment as it reports a transaction without expressing positive or negative views. The sale itself could be interpreted in various ways depending on the strategic rationale.

Industry Context

Walgreens Boots Alliance's sale of Cencora shares is part of an ongoing strategy to divest its stake in the company, as outlined in previous filings. This move could be aimed at streamlining operations or raising capital for other strategic initiatives.

Comparison to Industry Standards

• It is difficult to compare this transaction to industry standards without knowing the specific reasons behind the sale.
• However, large shareholders often divest stakes in companies for various reasons, including portfolio rebalancing or to raise capital.
• Comparable transactions would involve other major pharmaceutical distributors or healthcare companies where large shareholders reduce their positions.

Related Party Transactions

• The sale of shares to the Issuer (Cencora) is considered a related party transaction.

Stakeholder Impact

• The sale could have a minor impact on Cencora's stock price, depending on market perception of Walgreens Boots Alliance's motives.
• The transaction provides Cencora with an opportunity to repurchase its own shares.

Key Dates