Walgreens to sell its distribution unit to AmerisourceBergen for £4.78 billion

In an announcement on Wednesday, Walgreens Boots Alliance Inc (NASDAQ: WBA) said it will sell its distribution business to AmerisourceBergen Corp (NYSE: ABC) for £4.78 billion. Walgreens shares were seen more than 2% up in premarket trading on Wednesday and jumped another 2.5% in the next few hours. Including the price action, the stock is now trading at £31.69 per share versus a low of £24.64 per share in the last week of October – a good news for the value investors. The transaction is likely to complete before the start of fiscal 2022 Following the completion of the transaction