Walgreens' Executive Chair Stefano Pessina Seeks To Strengthen Control With Nearly Double Stake

Earlier this month, Sycamore Partners agreed to acquire Walgreens Boots Alliance Inc (NASDAQ:WBA) for $11.45 per share in cash at closing. Shareholders are also eligible to receive up to $3 in cash per share from the future monetization of Walgreens’ debt and equity interests in VillageMD, which includes the Village Medical, Summit Health and CityMD businesses.

Soon after, Gary Black, managing partner at The Future Fund LLC, said, “I’ve talked before about how this company shouldn’t be public,” adding that the move is driven by its largest shareholder, executive chairman Stefano Pessina, who holds a 16.9% stake.

The Financial Times, citing sources, writes that Stefano Pessina plans to nearly double his stake ...