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Joele Frank is handling Sycamore Partners’ acquisition of Walgreens Boots Alliance, a transaction valued in the $24B range.
The $11.45-per-share cash offer represents a 29 percent premium over WBA's closing price on Dec. 9, the day when media reports first speculated about the takeover.
Tim Wentworth, WBA CEO, believes the company can better manage its “ambitious turnaround strategy” as a private entity. “Sycamore will provide us with the expertise and experience of a partner with a strong track record of successful retail turnarounds, he added.
Boots has been in business for 175 years. Walgreens is almost 125 years old.
WBA employs more than 310K people in 12,500 locations in the US, Europe and Latin America.
Joele Frank, Wilkinson Brimmer Katcher’s Joele Frank, Aaron Palash, Jamie Moser and Adam Pollack represent Walgreens, while Michael Freitag and Arielle Rothstein handle Sycamore.
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