JANA Partners Reduces Walgreens Boots Alliance Position ~ market folly

Tuesday, May 24, 2016

JANA Partners Reduces Walgreens Boots Alliance Position

Barry Rosenstein's hedge fund firm JANA Partners has filed a Form 4 with the SEC regarding its position in Walgreens Boots Alliance (WBA).  Per the filing, JANA sold 6 million shares on May 16th at $77.29.

After this transaction, JANA still owns over 4.57 million shares of WBA.  This was previously their second largest position.  They originally acquired shares in the third quarter of 2013.

Per Google Finance, Walgreens Boots Alliance "is a global pharmacy-led health and wellbeing enterprise. It operates through three segments: Retail Pharmacy USA, which consists of the Walgreens business, including the operation of retail drugstores and convenient care clinics, in addition to providing specialty pharmacy services; Retail Pharmacy International, which consists of the Alliance Boots pharmacy-led health and beauty stores, optical practices and related contract manufacturing operations, and Pharmaceutical Wholesale, which consists of the Alliance Boots pharmaceutical wholesaling and distribution businesses. Its portfolio of retail and business brands includes Walgreens, Duane Reade, Boots and Alliance Healthcare, as well as global health and beauty product brands, including No7, Botanics, and Soap & Glory. Walgreens Boots Alliance, through its subsidiary, Liz Earle Beauty Co. Ltd, offers the Liz Earle skincare brand."

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