Deerfield, IL — Walgreens Boots Alliance shareholders approved the sale of the chain to Sycamore Partners Management.

According to the preliminary results, approximately 96% of votes cast at the Special Meeting by all shareholders were voted in favor of the merger agreement proposal. In addition, approximately 95% of the votes cast at the Special Meeting by unaffiliated shareholders were voted in favor of the merger agreement proposal.

“We appreciate the consideration and overwhelming support from our shareholders in our value-maximizing transaction with Sycamore,” said Tim Wentworth, Chief Executive Officer of Walgreens Boots Alliance. “With Sycamore’s partnership, we will be better positioned to accelerate our turnaround strategy, further enhance the customer, patient and team member experience and become the first choice for pharmacy, retail and health services. We look forward to closing the transaction and entering this next chapter.”

As previously announced on March 6, 2025, under the terms of the Merger Agreement, WBA shareholders will receive $11.45 per share in cash at closing, and one non-transferable Divested Asset Proceeds Right to receive up to an additional $3.00 in cash per share from the future monetization of WBA’s debt and equity interests in VillageMD, which includes the Village Medical, Summit Health and CityMD businesses.

WBA expects to close the transaction in the third or fourth quarter of calendar year 2025, subject to customary closing conditions, including the receipt of required regulatory approvals.