Walgreens sells shares in Cencora for third time this year, raises $1.1 billion
By Sabela Ojea
Walgreens Boots Alliance said it has sold an additional chunk of sales in Cencora to the drug distributor for $1.1 billion.
The drugstore chain on Thursday said that the sale would allow it to reduce its debt as it looks to build out a more capital-efficient health services strategy rooted in its retail pharmacy footprint.
As a result of the move, Walgreens (WBA) decreased its ownership stake in Cencora (COR) to about 10% from 12% previously. In May, the company reduced its stake in Cencora to 12% from 13% after lowering it from 15% in February.
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
08-01-24 1904ET
Copyright (c) 2024 Dow Jones & Company, Inc.-
What’s Happening in the Markets This Week
-
Worst-Performing Stock ETFs of the Quarter
-
Q3 in Review and Q4 2024 Market Outlook
-
Top-Performing Stock ETFs of the Quarter
-
September Jobs Report Forecasts Show Moderate Hiring Gains
-
Port Strike a Headache for Shippers but a Potential Tailwind for Certain US Transport Stocks
-
13 Charts on Q3′s Roller-Coaster Rally for Stocks and Bonds
-
5 Stocks to Buy Instead of Overpriced US Equities
-
Consumer Defensives: Despite Angst, Thirsty Investors Have Names to Pursue
-
Industrials: Many Stocks Overvalued After Q3 Outperformance
-
Basic Materials: Despite Index Rise, We See Multiple Long-Term Opportunities
-
What the Election Could Mean for Big Tech Stocks
-
3 Lessons From Recent Stock Market Drama
-
Consumer Cyclicals: Even Amid Moderating Consumer Spending, We See Discounts
-
Healthcare: Valuations Look Fair Overall, With Select Industries Still Undervalued
-
Utilities: Falling Interest Rates, Growth Outlook Boosting Stocks