AmerisourceBergen has agreed to buy Alliance Healthcare, a wholesale distributor owned by Walgreens Boots Alliance, for about $6.5bn.
The offer, comprised of $6.275bn in cash and 2m AmerisourceBergen shares, comes three years after a potential deal for Walgreens to acquire the pharmaceutical distributor fell through.
The two companies already have a strategic partnership in place. As part of the transaction, Walgreens and AmerisourceBergen have agreed to extend a US distribution agreement by three years to 2029. Alliance Healthcare will also remain a distribution partner for Boots for a decade.
Walgreens already owns a stake in AmerisourceBergen.
In late 2019 Walgreens explored a $70bn management buyout with US private equity giant KKR that would have delisted the retailer. The sale of Alliance Healthcare is likely to reignite speculation about a new attempt to take the drugstore group private.