Sycamore Partners acquisition of Walgreens Boots Alliance

Sycamore Partners agreed to acquire Walgreens Boots Alliance in a transaction announced at up to USD 23.7 billion. Consideration included USD 11.45 cash per share and a contingent right to up to USD 3.00 per share from VillageMD monetization. Wells Fargo advised Sycamore. The acquisition completed August 28, 2025 with the Pessina family reinvesting its interests. The announced maximum value, which includes contingent consideration, remains in narrative.