Blazing Star Merger Sub, Inc. announces final results 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. has announced the final results of its tender offer for Walgreens Boots Alliance (NASDAQ: WBA) notes across multiple series. The tender offer, which expired on August 27, 2025, received significant participation across all note series, with acceptance rates ranging from 85% to 98% of outstanding principal amounts.
The tender offer includes WBA's notes due between 2025 and 2050, with interest rates ranging from 2.125% to 8.125%, and Walgreen Co.'s 4.400% notes due 2042. The settlement is expected on August 28, 2025. This tender offer is conditional upon the closing of WBA's merger with Blazing Star Parent, LLC, where WBA will become a wholly-owned subsidiary of the parent company.
Blazing Star Merger Sub, Inc. ha comunicato i risultati definitivi della sua offerta di acquisto per le obbligazioni di Walgreens Boots Alliance (NASDAQ: WBA) relative a pi霉 serie. L鈥檕fferta, scaduta il 27 agosto 2025, ha registrato un鈥檃mpia partecipazione su tutte le serie, con tassi di accettazione compresi tra il 85% e il 98% del capitale in circolazione.
L鈥檕fferta riguardava le note WBA con scadenze tra il 2025 e il 2050, con tassi d鈥檌nteresse dal 2,125% al 8,125%, oltre alle obbligazioni Walgreen Co. 4,400% con scadenza 2042. Il regolamento 猫 previsto per il 28 agosto 2025. L鈥檕fferta 猫 subordinata al completamento della fusione di WBA con Blazing Star Parent, LLC, in seguito alla quale WBA diventer脿 una controllata interamente posseduta dalla capogruppo.
Blazing Star Merger Sub, Inc. ha anunciado los resultados finales de su oferta de compra por los bonos de Walgreens Boots Alliance (NASDAQ: WBA) correspondientes a varias series. La oferta, que venci贸 el 27 de agosto de 2025, recibi贸 una participaci贸n considerable en todas las series, con tasas de aceptaci贸n entre el 85% y el 98% del principal en circulaci贸n.
La oferta inclu铆a las notas de WBA con vencimientos entre 2025 y 2050, con tipos de inter茅s que van del 2,125% al 8,125%, as铆 como las notas de Walgreen Co. al 4,400% con vencimiento en 2042. El pago se espera para el 28 de agosto de 2025. Esta oferta est谩 condicionada al cierre de la fusi贸n de WBA con Blazing Star Parent, LLC, tras la cual WBA pasar谩 a ser una subsidiaria totalmente propiedad de la matriz.
Blazing Star Merger Sub, Inc.電� 鞐煬 鞁滊Μ歃堨棎 瓯胳箿 Walgreens Boots Alliance (NASDAQ: WBA) 毂勱秾鞐� 雽�頃� 瓿店皽毵れ垬 斓滌 瓴瓣臣毳� 氚滍憸頄堨姷雼堧嫟. 2025雲� 8鞗� 27鞚检棎 毵岆霅� 鞚措矆 毵れ垬觳暯鞚� 氇摖 鞁滊Μ歃堨棎靹� 雴掛潃 彀胳棳毳� 氤挫榾鞙茧┌, 氙胳儊頇� 鞗愱笀 雽�牍� 靾橃毄毳犾潃 85%鞐愳劀 98% 靷澊鞓赌鞀惦媹雼�.
鞚措矆 毵れ垬觳暯鞚� 2025雲勲秬韯� 2050雲勱箤歆� 毵岅赴鞚� WBA 毂勱秾(鞚挫瀽鞙� 2.125%~8.125%)瓿� Walgreen Co.鞚� 2042雲� 毵岅赴 4.400% 毂勱秾鞚� 韽暔頃╇媹雼�. 瓴办牅電� 2025雲� 8鞗� 28鞚�搿� 鞓堨爼霅橃柎 鞛堨姷雼堧嫟. 鞚� 毵れ垬觳暯鞚� WBA臧� Blazing Star Parent, LLC鞕�鞚� 頃╇硲鞚� 鞕勲頃橃棳 WBA臧� 頃措嫻 氇殞靷潣 鞝勳暋 於滌瀽 鞛愴殞靷皜 霅橂姅 瓴冹潉 臁瓣贝鞙茧 頃╇媹雼�.
Blazing Star Merger Sub, Inc. a annonc茅 les r茅sultats d茅finitifs de son offre publique d鈥檃chat portant sur les titres de Walgreens Boots Alliance (NASDAQ: WBA) pour plusieurs s茅ries. L鈥檕ffre, expir茅e le 27 ao没t 2025, a rencontr茅 une forte participation sur toutes les s茅ries, avec des taux d鈥檃cceptation allant de 85% 脿 98% du principal en circulation.
L鈥檕ffre portait sur les obligations WBA arrivant 脿 茅ch茅ance entre 2025 et 2050, avec des taux d鈥檌nt茅r锚t de 2,125% 脿 8,125%, ainsi que sur les obligations Walgreen Co. 4,400% 茅ch茅ance 2042. Le r猫glement est attendu le 28 ao没t 2025. Cette offre est subordonn茅e 脿 la cl么ture de la fusion de WBA avec Blazing Star Parent, LLC, suite 脿 laquelle WBA deviendra une filiale d茅tenue en totalit茅 par la soci茅t茅 m猫re.
Blazing Star Merger Sub, Inc. hat die endg眉ltigen Ergebnisse seines 脺bernahmeangebots f眉r die Anleihen von Walgreens Boots Alliance (NASDAQ: WBA) 眉ber mehrere Serien hinweg bekanntgegeben. Das Angebot, das am 27. August 2025 endete, verzeichnete eine starke Beteiligung in allen Serien, mit Annahmeraten zwischen 85% und 98% der ausstehenden Nominalbetr盲ge.
Das Angebot umfasste WBA-Anleihen mit F盲lligkeiten zwischen 2025 und 2050 und Zinss盲tzen von 2,125% bis 8,125% sowie Walgreen Co.-Anleihen mit 4,400% F盲lligkeit 2042. Die Abwicklung ist f眉r den 28. August 2025 vorgesehen. Das Angebot steht unter der Bedingung des Abschlusses der Fusion von WBA mit Blazing Star Parent, LLC, wonach WBA eine hundertprozentige Tochtergesellschaft des Mutterunternehmens wird.
- None.
- The tender offer is contingent on merger completion, introducing execution risk
- Not all outstanding notes were tendered, potentially leaving some series partially outstanding
Insights
WBA's acquisition progresses as most bondholders accept tender offer, signaling confidence in the upcoming merger transaction.
The press release reveals substantial progress in Walgreens Boots Alliance's acquisition process, with Blazing Star Merger Sub announcing final results for their tender offer for WBA's outstanding notes. The high acceptance rates across all note series indicate strong bondholder confidence in the transaction. For instance,
This tender offer is a critical step in the merger process announced on March 6, 2025, which will result in WBA becoming a wholly-owned subsidiary of Blazing Star Parent, LLC. The high participation rates are particularly noteworthy given the diverse maturity profiles and coupon rates of the notes involved, ranging from the 2.125% 2026 Notes to the 8.125% 2029 Notes. The willingness of holders across this spectrum to tender suggests they view the offer terms as favorable compared to holding the debt through the ownership transition.
The scheduled settlement date of August 28, 2025, indicates the merger is proceeding on schedule, with the tender offer explicitly conditioned on the "substantially concurrent closing" of the acquisition. This debt restructuring effort is likely aimed at simplifying WBA's capital structure ahead of the ownership change, potentially giving the new owners more flexibility in future financing decisions. The successful tender offer removes a potential obstacle to completing the transaction and suggests the merger is on track for imminent completion.
The Tender Offer and Consent Solicitation were 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.
As of the Expiration Time, according to information provided by Global Bondholder Services Corporation, the depositary and information agent (the "Depositary and Information Agent") for the Tender Offer and Consent Solicitation, the table below outlines the principal amount of the Notes validly tendered and not validly withdrawn as of the Expiration Time. The Tender Offer is expected to settle on August 28, 2025, subject to the conditions set forth 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").
Title of Notes | CUSIP/ISIN(1) | Outstanding Principal Amount | Aggregate Principal聽Amount Tendered |
ISIN: XS1138359663 | GBP | GBP | |
ISIN: XS1138360166 | EUR | EUR | |
CUSIP: 931427AQ1 ISIN: US931427AQ19 | |||
CUSIP: 931427AW8 ISIN: US931427AW86 | |||
颁鲍厂滨笔:听931427础厂7 ISIN: US931427AS74 | |||
CUSIP: 931427AB4 滨厂滨狈:听鲍厂931427础叠40 | |||
| CUSIP: 931422AK5 ISIN: US931422AK51 | ||
CUSIP: 931427AC2 ISIN: US931427AC23 | |||
CUSIP: 931427AR9 ISIN: US931427AR91 | |||
CUSIP: 931427AT5 ISIN: US931427AT57 |
(1) | 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 |
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).
Citigroup Global Markets Inc. is the Dealer Manager for the Tender Offer and the Consent Solicitation.
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.
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.
FAQ
What is the total value of notes tendered in the Walgreens Boots Alliance (WBA) tender offer?
When will the WBA tender offer settle?
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