Blazing Star Merger Sub, Inc. announces extension of the expiration time and settlement date for the previously announced Tender Offer and Consent Solicitation for any and all Walgreens Boots Alliance, Inc.'s 3.600% senior notes due 2025, 2.125% senior notes due 2026, 3.450% notes due 2026, 8.125% notes due 2029, 3.200% Notes due 2030, 4.500% senior notes due 2034, 4.800% senior notes due 2044, 4.650% notes due 2046 and 4.100% Notes due 2050, and any and all of Walgreen Co.'s 4.400% notes due 2042
Blazing Star Merger Sub, Inc. announced an extension of the expiration time and settlement date for the previously announced tender offer and consent solicitation related to Walgreens Boots Alliance (NASDAQ: WBA) notes. The expiration time has been extended from August 21, 2025, to 5:00 p.m., New York City time, on August 26, 2025, with settlement now scheduled for August 28, 2025.
The tender offer covers multiple series of senior notes with various interest rates and maturities ranging from 2025 to 2050. Significant participation has been observed across all note series, with high tender rates including 89% of the 2029 Notes and 98% of the 2046 Notes. The tender offer is conditional upon the closing of WBA's merger with Blazing Star Parent, LLC, where WBA will become a wholly-owned subsidiary.
Blazing Star Merger Sub, Inc. ha annunciato un'estensione dell'orario di scadenza e della data di regolamento per l'offerta pubblica di acquisto e la richiesta di consenso precedentemente comunicate relative alle obbligazioni di Walgreens Boots Alliance (NASDAQ: WBA). L'orario di scadenza 猫 stato prorogato dal 21 agosto 2025 al 5:00 p.m., ora di New York, il 26 agosto 2025, mentre il regolamento 猫 ora previsto per il 28 agosto 2025.
L'offerta riguarda pi霉 serie di obbligazioni senior con diversi tassi di interesse e scadenze che vanno dal 2025 al 2050. 脠 stata osservata una partecipazione significativa in tutte le serie, con elevati tassi di adesione, tra cui il 89% delle Note 2029 e il 98% delle Note 2046. L'offerta 猫 condizionata al completamento della fusione di WBA con Blazing Star Parent, LLC, in cui WBA diventer脿 una controllata interamente posseduta.
Blazing Star Merger Sub, Inc. anunci贸 una extensi贸n del horario de vencimiento y de la fecha de liquidaci贸n de la oferta p煤blica de adquisici贸n y la solicitud de consentimiento previamente anunciadas relacionadas con los bonos de Walgreens Boots Alliance (NASDAQ: WBA). El horario de vencimiento se ha ampliado del 21 de agosto de 2025 al 5:00 p.m., hora de la ciudad de Nueva York, el 26 de agosto de 2025, y la liquidaci贸n est谩 ahora programada para el 28 de agosto de 2025.
La oferta cubre varias series de bonos s茅nior con distintos tipos de inter茅s y vencimientos que van de 2025 a 2050. Se ha observado una participaci贸n significativa en todas las series, con altas tasas de aceptaci贸n, incluidos el 89% de los Bonos 2029 y el 98% de los Bonos 2046. La oferta est谩 condicionada al cierre de la fusi贸n de WBA con Blazing Star Parent, LLC, en la que WBA pasar谩 a ser una filial de propiedad total.
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鞚措矆 瓿店皽毵れ垬电� 2025雲勲秬韯� 2050雲勱箤歆 毵岅赴臧 雼れ枒頃� 鞐煬 膦呾潣 靹犾垳鞙� 毂勱秾鞚� 雽靸侅溂搿� 頃╇媹雼�. 氇摖 毂勱秾 鞁滊Μ歃堨棎靹� 靸侂嫻頃� 彀胳棳臧 甏彀半悩鞐堨溂氅�, 2029雲勲 毂勱秾鞚� 89%, 2046雲勲 毂勱秾鞚� 98% 霌� 雴掛潃 鞚戩鞍 牍勳湪鞚� 氤挫榾鞀惦媹雼�. 鞚� 瓿店皽毵れ垬电� WBA臧 Blazing Star Parent, LLC鞕鞚� 頃╇硲鞚� 毵堧毽晿鞐� WBA臧 鞝勳暋 於滌瀽 鞛愴殞靷皜 霅樀鐢 瓴冹潉 鞝勳牅搿� 頃╇媹雼�.
Blazing Star Merger Sub, Inc. a annonc茅 une prolongation de l'heure d'expiration et de la date de r猫glement de l'offre publique d'achat et de la sollicitation de consentement pr茅c茅demment annonc茅es concernant les titres de Walgreens Boots Alliance (NASDAQ: WBA). L'heure d'expiration a 茅t茅 repouss茅e du 21 ao没t 2025 au 26 ao没t 2025 脿 17h00, heure de la ville de New York, et le r猫glement est d茅sormais pr茅vu pour le 28 ao没t 2025.
L'offre couvre plusieurs s茅ries d'obligations senior avec des taux d'int茅r锚t et des 茅ch茅ances vari茅s allant de 2025 脿 2050. Une participation importante a 茅t茅 constat茅e pour toutes les s茅ries, avec des taux de remise 茅lev茅s, notamment 89% des titres 2029 et 98% des titres 2046. L'offre est conditionn茅e 脿 la cl么ture de la fusion de WBA avec Blazing Star Parent, LLC, par laquelle WBA deviendra une filiale d茅tenue 脿 100%.
Blazing Star Merger Sub, Inc. gab eine Verl盲ngerung der Ablaufzeit und des Abwicklungstermins f眉r das zuvor angek眉ndigte 脺bernahmeangebot und die Zustimmungserkl盲rung in Bezug auf Anleihen von Walgreens Boots Alliance (NASDAQ: WBA) bekannt. Die Ablaufzeit wurde vom 21. August 2025 auf 5:00 p.m., Ortszeit New York City, am 26. August 2025 verl盲ngert; die Abwicklung ist nun f眉r den 28. August 2025 angesetzt.
Das 脺bernahmeangebot umfasst mehrere Serien vorrangiger Anleihen mit unterschiedlichen Zinss盲tzen und Laufzeiten von 2025 bis 2050. In allen Anleihenserien wurde eine erhebliche Teilnahme festgestellt, mit hohen Angebotsquoten, darunter 89% der 2029er Notes und 98% der 2046er Notes. Das Angebot steht unter dem Vorbehalt des Abschlusses der Fusion von WBA mit Blazing Star Parent, LLC, durch die WBA eine hundertprozentige Tochtergesellschaft werden soll.
- High participation rates across all note series, indicating strong holder support
- Extension provides additional time for remaining noteholders to participate
- Settlement date aligned with merger closing, ensuring coordinated transaction execution
- Withdrawal deadline of August 4, 2025, has expired - tendered notes cannot be withdrawn
- Completion remains subject to merger closing conditions
- Parent company retains right to redeem or defease any remaining outstanding notes post-merger
Insights
Blazing Star extends tender deadline for WBA's notes as part of pending acquisition, with high participation rates indicating strong bondholder support.
The extension of the tender offer deadline from August 21 to August 26, 2025, represents a procedural adjustment to align the settlement date (now August 28) with the closing of Blazing Star's acquisition of Walgreens Boots Alliance. This is a standard transaction modification rather than a sign of problems with the tender process.
The current tender participation rates are remarkably strong, with acceptance levels ranging from approximately 85-98% across WBA's ten different note series. For instance, the 2029 Notes show approximately 96% participation (US$718.7M of US$750M outstanding) and the 2050 Notes show 98% participation (US$629.9M of US$640.4M outstanding). These high acceptance rates indicate bondholders are broadly satisfied with the terms being offered.
This tender offer is part of Blazing Star's broader acquisition strategy following the March 6, 2025 merger agreement. The transaction structure gives Blazing Star flexibility with any non-tendered notes - they could redeem remaining notes, defease them (essentially pre-funding future payments), or simply leave them outstanding with potentially modified covenants if the consent solicitation succeeds.
The extended deadline maintains the same August 4 withdrawal deadline that has already passed, meaning bondholders who have tendered cannot withdraw their notes. This creates additional certainty for Blazing Star regarding the final tender amounts as they approach the merger closing.
The Offeror announced that the previously announced Expiration Time of 5:00 p.m.,
Title of Notes | CUSIP/ISIN(1) | Outstanding Principal Amount | Aggregate Principal |
ISIN: XS1138359663 | GBP | GBP | |
ISIN: XS1138360166 | EUR | EUR | |
CUSIP: 931427AQ1 ISIN: US931427AQ19 | |||
CUSIP: 931427AW8 ISIN: US931427AW86 | |||
CUSIP: 听931427础厂7 ISIN: US931427AS74 | |||
CUSIP: 931427AB4 ISIN: US931427AB40 | |||
CUSIP: 931422AK5 滨厂滨狈:听鲍厂931422础碍51 | |||
CUSIP: 931427AC2 ISIN: US931427AC23 | |||
CUSIP: 931427AR9 ISIN: US931427AR91 | |||
CUSIP: 931427AT5 ISIN: US931427AT57 |
(1)聽聽 The CUSIP numbers and ISIN numbers referenced in this press release are included solely for the convenience of holders.聽 None of the Offeror, the Company, the Trustee (in any of its capacities), the Dealer Manager, the Depositary and Information Agent and their respective affiliates shall be held responsible for the selection or use of the referenced CUSIP numbers and ISIN numbers, and no representation is made as to the correctness of any CUSIP number or ISIN number on the Notes or as indicated in this press release or any other document.聽
The Tender Offer and Consent Solicitation are being made in connection with, and are expressly conditioned upon the substantially concurrent closing of the acquisition of WBA pursuant to the agreement and plan 鈥巓f merger, dated March 6, 2025 (as amended, supplemented, waived or otherwise modified from time to 鈥巘ime, the "Merger Agreement"), by and among WBA, Blazing Star Parent, LLC (the "Parent"), the 鈥嶰fferor and the other affiliates of the Parent named therein, which provides that the Offeror will merge with and into WBA (the "Merger"), with WBA surviving the Merger as a wholly-owned subsidiary of Parent.
The terms and conditions of the Tender Offer and Consent Solicitation are described in the Offer to Purchase and Consent Solicitation Statement relating to the Notes dated as of July 22, 2025 (as amended or supplemented from time to time, the "Offer to Purchase and Consent Solicitation Statement").
General Information
The Offeror's obligations to complete the Tender Offer and Consent Solicitation are subject to and conditioned upon the following having occurred or having been waived by us with respect to such Offer: (1) the satisfaction of the Merger Condition, and (2) the satisfaction of the General Conditions (each as described in the Offer to Purchase and Consent Solicitation Statement). Each Offer and Consent Solicitation is a separate offer and are not conditioned on any other Offer or Consent Solicitation. There can be no assurance that either of the Tender Offer or Consent Solicitation will be consummated. The Offeror may amend, extend or terminate the Tender Offer and Consent Solicitation, in its sole discretion.
Any Notes not tendered and purchased pursuant to the Tender Offer will remain outstanding. To the extent any Notes remain outstanding, the Parent may cause the Company to redeem such Notes after the closing of the Merger and the consummation of the Tender Offer in accordance with the terms of the Indentures as amended by the Proposed Amendments, as applicable. Alternatively, the Parent may cause the Company to defease such Notes, in which case holders of such Notes will continue to receive interest payment on each scheduled interest payment date and principal on the stated maturity date but will not benefit from any restrictive covenants and such Notes will not be subject to any change of control offer in connection with the Merger. Finally, the Parent may leave outstanding any outstanding Notes after the closing of the Merger and the consummation of the Tender Offer. The Parent has the right to make any and all decisions with respect to any outstanding Notes in its sole discretion, subject to compliance with the terms of the agreements governing its indebtedness.
Citigroup Global Markets Inc. has been retained as the Dealer Manager in connection with the Offers and the Consent Solicitation. In their capacity as Dealer Manager, the Dealer Manager may contact holders regarding the Offer and the Consent Solicitation and may request brokers, dealers, commercial banks, trust companies and other nominees to forward this Offer to Purchase and Consent Solicitation Statement and related materials to beneficial owners of Notes. Requests for documents may be directed to Global Bondholder Services Corporation, the Depositary and Information Agent at: +1 (855) 654 2015 or [email protected]. Questions about the Tender Offer and the Consent Solicitation may be directed to Citigroup Global Markets Inc. at (800) 558-3745.
This press release is for informational purposes only. The Tender Offer and Consent Solicitation are being made solely by the Offer to Purchase and Consent Solicitation Statement. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities and shall not constitute an offer, solicitation or sale in any jurisdiction in which, or to any persons to whom, such offering, solicitation or sale would be unlawful. The Tender Offer and Consent Solicitation are not being made to holders of Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the securities laws or blue sky laws require the Tender Offer or Consent Solicitation to be made by a licensed broker or dealer, the Tender Offer and Consent Solicitation will be deemed to be made on behalf of the Offeror by the Dealer Manager and Solicitation Agent, or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.
None of the Offeror, the Company, the Trustee (in any of its capacities), the Depositary and Information Agent, the Dealer Manager and Solicitation Agent or any of their respective affiliates makes any recommendation as to whether holders should tender or refrain from tendering their Notes, and no person or entity has been authorized by any of them to make such a recommendation. Holders must make their own decision as to whether to tender Notes and, if so, the principal amount of the Notes to tender.
Forward-Looking Statements
This press release and certain statements made from time to time by us, the Company and our and 鈥巘heir respective representatives contain or incorporate by reference certain "forward-looking statements" within 鈥巘he meaning of the federal securities laws. All statements other than statements of historical facts are forward-looking statements. In many cases, you can identify forward-looking statements by terms such 鈥巃s "may," "will," "should," "expect," "plan," "anticipate," "could," "intend," "target," "project," "contemplate," 鈥庘�"believe," "estimate," "predict," "potential" or "continue" or other similar words. These forward-looking 鈥巗tatements are only predictions. These statements relate to future events and 鈥巌nvolve known and unknown risks, uncertainties and other important factors that may cause the 鈥巃ctual outcomes to materially differ from those expressed or implied by these forward-looking statements. New factors 鈥巆ould emerge from time to time and it is not possible for us to predict all such factors. Because forward-looking 鈥巗tatements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, 鈥巠ou should not rely on these forward-looking statements as guarantees of future events. These forward-looking 鈥巗tatements speak only as of the date made and are not guarantees of future performance of results. We expressly 鈥巇isclaim any obligation or undertaking to release any updates or revisions to any forward-looking statement 鈥巆ontained or incorporated by reference herein to reflect any change in expectations with regard thereto or any 鈥巆hange of events, conditions or circumstances on which any such statement was based, except as required by law.鈥�
SOURCE Blazing Star Merger Sub, Inc.