AmerisourceBergen acquires Walgreens Boots Alliance’s distribution business for $6.5 billion

U.S. drug wholesaler AmerisourceBergen said on Wednesday it would buy Walgreens Boots Alliance’s distribution business for $6.5 billion to expand in Europe as well as to compete better in the U.S. healthcare sector.

Walgreens had in 2019 explored going private and held preliminary discussions with private equity firms, including KKR & Co. Inc. However buyout talks between KKR and Walgreens stalled after loan buyers pushed back over the terms, with the report adding that there doesn’t appear to be an imminent deal.

The biggest impediment: KKR and its prospective financiers reportedly couldn’t come close to agreeing on the company’s valuation, estimated to be between $75 and $80 per share, or roughly $70 billion for the full business.

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