Leerink Partners Raises Price Target on AmerisourceBergen (ABC) to $100; Reiterates Outperform

Walgreens Boots Alliance Exercises Second Tranche of Warrants to Purchase AmerisourceBergen Shares

DEERFIELD, Ill.--(BUSINESS WIRE)-- Walgreens Boots Alliance, Inc. (Nasdaq: WBA) today announced that it had agreed with AmerisourceBergen Corporation (NYSE: ABC) to amend the second tranche of warrants held by Walgreens Boots Alliance to purchase AmerisourceBergen common stock, so as to permit the immediate exercise of these warrants. The warrants were originally scheduled to be exercisable in March 2017.

Walgreens Boots Alliance then exercised these warrants and purchased 22,696,912 shares of AmerisourceBergen common stock for an aggregate payment of approximately $1.19 billion. The transaction was funded using existing cash on hand.