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NEW YORK - Blazing Star Merger Sub, Inc. announced Monday the extension of its tender offer expiration date for Walgreens Boots Alliance, Inc. (NASDAQ:WBA) outstanding notes to August 21, 2025, from the previously scheduled August 18 deadline. The pharmacy giant, currently trading at $11.99 and showing strong momentum with a 28.62% gain year-to-date, continues to attract investor attention during this transition period.
The settlement date for the tender offer has been pushed to August 26, 2025, according to the company’s press release. The extension aligns the settlement with the anticipated closing of Blazing Star’s acquisition of Walgreens Boots Alliance.
The tender offer targets all outstanding notes across multiple series with varying interest rates and maturities ranging from 2025 to 2050. Current tender participation rates are high, with approximately 89% of the 3.600% Notes due 2025, 92% of the 2.125% Notes due 2026, and 98% of the 4.100% Notes due 2050 already tendered. According to InvestingPro analysis, Walgreens, with its $10.38B market capitalization, maintains a FAIR financial health score, suggesting stable debt management capabilities.
The withdrawal deadline of August 4 has already passed, meaning investors who have tendered their notes cannot withdraw them.
The tender offer is conditional upon the closing of the merger agreement dated March 6, 2025, under which Blazing Star Parent, LLC will acquire Walgreens Boots Alliance, with WBA surviving as a wholly-owned subsidiary.
For notes not tendered, the company may pursue several options after the merger closes, including redemption, defeasance, or leaving them outstanding, subject to compliance with debt agreements.
Citigroup Global Markets Inc. serves as the dealer manager for the tender offer, while Global Bondholder Services Corporation acts as the depositary and information agent. For deeper insights into WBA’s debt structure and comprehensive bond analysis, investors can access detailed research through InvestingPro, which offers exclusive financial metrics and expert analysis in its Pro Research Report.
The information is based on a company press release statement and does not constitute an offer to sell or solicitation to buy securities.
In other recent news, Walgreens Boots Alliance shareholders have approved the company’s acquisition by Sycamore Partners, with approximately 96% of the votes in favor. As part of this transaction, shareholders will receive $11.45 per share in cash, along with a potential additional payout from the future monetization of Walgreens’ interests in VillageMD. In connection with the pending merger with Blazing Star Parent, LLC, Walgreens announced a temporary blackout period for its employee retirement savings plans. This will involve the removal of the Walgreens Stock Fund as an investment option, with assets being reinvested in age-aligned target date funds.
Blazing Star Merger Sub, Inc. has also announced the pricing details for its cash tender offers for all outstanding notes of Walgreens Boots Alliance and Walgreen Co., covering notes with maturity dates ranging from 2025 to 2050. Evercore ISI has maintained its In Line rating for Walgreens stock, with a price target set at $11.45, noting that the company’s quarterly results align with previous estimates. Additionally, Walgreens is partnering with KFF for the largest-ever National HIV Testing Day, offering free rapid testing for HIV, syphilis, and hepatitis C at over 575 stores. This initiative involves more than 415 local health departments and community organizations, marking significant participation in the partnership’s history.
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