Blazing Star Merger Sub, Inc. announces extension of the expiration time 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 has extended the expiration time for its tender offer and consent solicitation for Walgreens Boots Alliance (NASDAQ: WBA) notes. The expiration time has been moved from August 26 to August 27, 2025, 5:00 PM ET. The settlement date remains August 28, 2025.
The tender offer covers ten different series of notes with various interest rates and maturities, including notes from both WBA and Walgreen Co. Significant portions of each note series have already been tendered, with participation rates ranging from 85% to 98% across different series.
This tender offer is connected to the previously announced merger agreement dated March 6, 2025, where Blazing Star Parent will acquire WBA. The withdrawal deadline of August 4, 2025, has already passed, and tendered notes cannot be withdrawn.
Blazing Star Merger Sub ha prorogato il termine per la sua offerta pubblica di acquisto e la richiesta di consenso relativa alle note di Walgreens Boots Alliance (NASDAQ: WBA). Il termine è stato spostato dal 26 agosto al 27 agosto 2025, ore 17:00 ET. La data di regolamento resta il 28 agosto 2025.
L'offerta riguarda dieci diverse serie di obbligazioni con tassi d'interesse e scadenze differenti, incluse emissioni sia di WBA sia di Walgreen Co. Una parte consistente di ogni serie è già stata presentata in adesione, con tassi di partecipazione che variano dal 85% al 98% a seconda della serie.
Questa offerta è connessa all'accordo di fusione annunciato il 6 marzo 2025, con cui Blazing Star Parent acquisirà WBA. Il termine per il ritiro, fissato al 4 agosto 2025, è già scaduto e le note offerte non possono più essere ritirate.
Blazing Star Merger Sub ha ampliado el plazo de su oferta pública de compra y solicitud de consentimiento para los bonos de Walgreens Boots Alliance (NASDAQ: WBA). El plazo se ha trasladado del 26 de agosto al 27 de agosto de 2025, 5:00 PM ET. La fecha de liquidación sigue siendo el 28 de agosto de 2025.
La oferta cubre diez series distintas de bonos con diversos tipos de interés y vencimientos, incluidas emisiones tanto de WBA como de Walgreen Co. Una parte significativa de cada serie ya se ha presentado en la oferta, con tasas de participación que oscilan entre el 85% y el 98% según la serie.
Esta oferta está vinculada al acuerdo de fusión anunciado el 6 de marzo de 2025, por el cual Blazing Star Parent adquirirá WBA. El plazo para retirar la aceptación, que venció el 4 de agosto de 2025, ya ha pasado y las notas ofrecidas no pueden retirarse.
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Blazing Star Merger Sub a prolongé la date d'expiration de son offre publique d'achat et de sa sollicitation de consentement concernant les obligations de Walgreens Boots Alliance (NASDAQ: WBA). La date d'expiration est reportée du 26 août au 27 août 2025 à 17h00 (ET). La date de règlement reste le 28 août 2025.
L'offre porte sur dix séries différentes d'obligations aux taux d'intérêt et maturités variés, incluant des titres émis par WBA et Walgreen Co. Des parts importantes de chaque série ont déjà été proposées, avec des taux de participation allant de 85% à 98% selon les séries.
Cette offre est liée à l'accord de fusion annoncé le 6 mars 2025, par lequel Blazing Star Parent acquerra WBA. La date limite de retrait du 4 août 2025 est déjà passée et les obligations proposées ne peuvent plus être retirées.
Blazing Star Merger Sub hat die Frist für sein Übernahmeangebot und die Zustimmungseinholung für die Anleihen von Walgreens Boots Alliance (NASDAQ: WBA) verlängert. Die Frist wurde vom 26. August auf den 27. August 2025, 17:00 Uhr ET verlegt. Das Abwicklungsdatum bleibt der 28. August 2025.
Das Angebot umfasst zehn verschiedene Anleihenserien mit unterschiedlichen Zinssätzen und Laufzeiten, einschließlich Titeln sowohl von WBA als auch von Walgreen Co. Wesentliche Anteile jeder Serie sind bereits eingereicht worden, mit Beteiligungsquoten von 85% bis 98% je nach Serie.
Dieses Angebot steht im Zusammenhang mit dem am 6. März 2025 angekündigten Fusionsabkommen, bei dem Blazing Star Parent WBA übernehmen wird. Die Rückzugsfrist vom 4. August 2025 ist bereits verstrichen, und eingereichte Anleihen können nicht mehr zurückgezogen werden.
- High participation rates with 85-98% of notes tendered across different series
- Settlement date remains on schedule for August 28, 2025
- Multiple options available for remaining noteholders including potential redemption or defeasement
- Withdrawal deadline has passed - tendered notes cannot be withdrawn
- Completion is contingent on merger closing and other conditions
- Remaining noteholders may lose certain covenant protections if amendments are approved
Insights
Blazing Star extends tender offer deadline for WBA's notes as part of pending acquisition, with high participation rates already achieved.
This extension announcement provides important visibility into the pending acquisition of Walgreens Boots Alliance. The tender offer extension to August 27, 2025, with settlement still planned for August 28, signals that Blazing Star Merger Sub is coordinating the debt restructuring to coincide precisely with the merger closing date established in their March 6, 2025 agreement.
Most notably, the tender offers have already achieved remarkably high participation rates across all ten note series. For the 2050 Notes,
The acquirer is maintaining strategic flexibility regarding any non-tendered notes, contemplating options including redemption, defeasance, or simply leaving them outstanding post-merger. Importantly, the withdrawal deadline of August 4 has already passed, meaning tendered notes cannot be withdrawn, effectively locking in the current high participation rates.
This coordinated debt restructuring approach confirms that the acquisition is proceeding as planned, with the acquirer methodically managing WBA's
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 Amount Tendered |
ISIN: XS1138359663 | GBP | GBP | |
ISIN: XS1138360166 | EUR | EUR | |
CUSIP: 931427AQ1 ISIN: US931427AQ19 | |||
CUSIP: 931427AW8 ISIN: US931427AW86 | |||
CUSIP: Ìý931427´¡³§7 Ìý ISIN: US931427AS74 | |||
CUSIP: 931427AB4 ISIN:ÌýUS931427AB40 | |||
CUSIP: 931422AK5 ISIN: US931422AK51 | |||
CUSIP: 931427AC2 ISIN: US931427AC23 | |||
CUSIP: 931427AR9 ISIN: US931427AR91 | |||
CUSIP: 931427AT5 ISIN: US931427AT57 |
(1) TheÌýCUSIP numbers and ISIN numbers referenced in this press release are included solely for the convenience of holders.Ìý 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.Ìý
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 ‎of merger, dated March 6, 2025 (as amended, supplemented, waived or otherwise modified from time to ‎time, the "Merger Agreement"), by and among WBA, Blazing Star Parent, LLC (the "Parent"), the ‎Offeror 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 ‎their respective representatives contain or incorporate by reference certain "forward-looking statements" within ‎the 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 ‎as "may," "will," "should," "expect," "plan," "anticipate," "could," "intend," "target," "project," "contemplate," ‎�"believe," "estimate," "predict," "potential" or "continue" or other similar words. These forward-looking ‎statements are only predictions. These statements relate to future events and ‎involve known and unknown risks, uncertainties and other important factors that may cause the ‎actual outcomes to materially differ from those expressed or implied by these forward-looking statements. New factors ‎could emerge from time to time and it is not possible for us to predict all such factors. Because forward-looking ‎statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, ‎you should not rely on these forward-looking statements as guarantees of future events. These forward-looking ‎statements speak only as of the date made and are not guarantees of future performance of results. We expressly ‎disclaim any obligation or undertaking to release any updates or revisions to any forward-looking statement ‎contained or incorporated by reference herein to reflect any change in expectations with regard thereto or any ‎change of events, conditions or circumstances on which any such statement was based, except as required by law.�
SOURCE Blazing Star Merger Sub, Inc.