Reported 5 months ago
Walgreens Boots Alliance has sold $400 million worth of shares in drug distributor Cencora, reducing its stake to about 12% from 13%. The proceeds will be used for debt paydown and general corporate purposes. This sale is part of a gradual reduction in stake over the past year, with previous sales totaling $674 million and $1.85 billion. The long-term partnership between the two companies remains unaffected. Cencora has also raised its fiscal 2024 profit forecast from $13.30-$13.50 to $13.35-$13.55 per share.
Source: YAHOO