AmerisourceBergen announces secondary stock offering by Walgreens Boots

• AmerisourceBergen (NYSE:ABC) on Monday announced a secondary public offering of 10M shares held by selling shareholder Walgreens Boots Alliance Holdings.
• The company will not receive any proceeds from the sale of stock by the selling shareholder.
• The offering is expected to close on or about Nov. 10.
• Subject to the completion of the offering, AmerisourceBergen (ABC) plans to concurrently repurchase shares from Walgreens Boots Alliance Holdings at a price per share equal to the price at which the underwriter will buy shares from the selling shareholder in the offering in the amount of ~$500M.
• The offering is not conditioned on the completion of the concurrent share repurchase.
• Walgreens Boots Alliance (WBA) in May cut its stake in AmerisourceBergen (ABC) to 25.2%.