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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

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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 The withdrawal deadline of August 4, 2025, has already passed, and tendered notes cannot be withdrawn.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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ì´ë²ˆ 공개매수µç� 금리와 만기가 다양í•� ì—� ê°œì˜ ì„œë¡œ 다른 채권 시리ì¦�ë¥� 대ìƒìœ¼ë¡� 하며, WBA와 Walgreen Co.ì� ë°œí–‰ë¬¼ë„ í¬í•¨ë©ë‹ˆë‹�. ê°� ì‹œë¦¬ì¦ˆì˜ ìƒë‹¹ ë¶€ë¶„ì´ ì´ë¯¸ ì‘ì°°ë˜ì—ˆìœ¼ë©° 시리즈별 ì°¸ì—¬ìœ¨ì€ 85%ì—서 98% 사ì´ìž…니ë‹�.

ì� 공개매수µç� 2025ë…� 3ì›� 6ì� 발표ë� 합병 계약ê³� ê´€ë ¨ì´ ìžˆìœ¼ë©�, Blazing Star Parentê°€ WBAë¥� ì¸ìˆ˜í•� 예정입니ë‹�. 2025ë…� 8ì›� 4ì¼ìž 철회 ê¸°í•œì€ ì´ë¯¸ 지났으ë©�, ì‘ì°°ë� ì±„ê¶Œì€ ë� ì´ìƒ 철회í•� ìˆ� 없습니다.

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.

Positive
  • 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
Negative
  • 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, $630.1 million of the $640.3 million outstanding (98.4%) have been tendered. Similarly high participation rates are evident across other tranches, with the 2046 Notes at 97.7%, 2044 Notes at 96.8%, and 2029 Notes at 95.9%. The lowest participation is seen in the 3.450% 2026 Notes at 78.6%, which still represents strong holder consent.

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 $5.3 billion in outstanding notes across multiple currencies as part of the transition to private ownership under Blazing Star Parent.

NEW YORK, Aug. 27, 2025 /PRNewswire/ -- Blazing Star Merger Sub, Inc. (the "Offeror" announced today the extension of the Expiration Time (as defined below) for (A) the previously announced cash tender offers (each, an "Offer" and, collectively, the "Tender Offer") for any and all of Walgreens Boots Alliance, Inc.'s (NASDAQ: WBA) ("WBA") outstanding (1) 3.600% senior notes due 2025 (the "2025 Notes"), (2) 2.125% senior notes due 2026 (the "2.125% 2026 Notes"), (3) 3.450% notes due 2026 (the "3.450% 2026 Notes"), (4) 8.125% notes due 2029 (the "2029 Notes"), (5) 3.200% notes due 2030 (the "2030 Notes"), (6) 4.500% senior notes due 2034 (the "2034 Notes"), (7) 4.800% senior notes due 2044 (the "2044 Notes"), (8) 4.650% notes due 2046 (the "2046 Notes") and (9) 4.100% notes due 2050 (the "2050 Notes"), and any and all of Walgreen Co.'s (collectively with WBA, the "Company") 4.400% notes due 2042 (the "2042 Notes" and, together with the 2025 Notes, the 2.125% 2026 Notes, 3.450% 2026 Notes, the 2029 Notes, the 2030 Notes, the 2034 Notes, the 2044 Notes, the 2046 Notes, and the 2050 Notes, the "Notes"), and (B) the previously announced solicitation of consents (the "Consent Solicitation") (i) from holders of the 2025 Notes, the 2.125% 2026 Notes, the 2034 Notes and the 2044 Notes to certain proposed amendments to the indenture, dated as of November 18, 2014, by and between WBA and Computershare Trust Company, N.A. as successor to Wells Fargo Bank, National Association, as trustee (the "Trustee") (the "2014 Indenture"); (ii) from holders of the 3.450% 2026 Notes, the 2029 Notes, the 2030 Notes, the 2046 Notes and the 2050 Notes to certain proposed amendments to the indenture, dated as of December 17, 2015, by and between WBA and the Trustee (as supplemented by the First Supplemental Indenture dated as of October 13, 2021, the "2015 Indenture"); and (iii) from holders of the 2042 Notes to certain proposed amendments to the indenture, dated as of July 17, 2008, by and between Walgreen Co. and the Trustee (the "2008 Indenture" and, together with the 2014 Indenture and the 2015 Indenture, the "Indentures") (such proposed amendments are collectively referred to as the "Proposed Amendments" and such consents being solicited are each a "Consent" and collectively, the "Consents").

The Offeror announced that the previously announced Expiration Time of 5:00 p.m., New York City time, on August 26, 2025, has been extended with respect to all holders of Notes to 5:00 p.m., New York City time, on August 27, 2025, unless extended or earlier terminated by the Offeror in its sole discretion (the "Expiration Time"). The Settlement Date (as defined in the Offer to Purchase and Consent Solicitation Statement), remains August 28, 2025, unless extended or earlier terminated. The Offeror intends to extend the Expiration Time, without extending the Withdrawal Deadline (unless required by law), to have the Settlement Date coincide with the closing of the Merger. The Withdrawal Deadline of 5:00 p.m., New York City time, on August 4, 2025 (the "Withdrawal Deadline"), is not extended and has already expired and any Notes tendered may not be withdrawn. The table below outlines the approximate principal amount of the Notes validly tendered and not validly withdrawn as of the date hereof.

Title of Notes

CUSIP/ISIN(1)

Outstanding Principal Amount

Aggregate Principal Amount Tendered

3.600% Notes due 2025

ISIN: XS1138359663

GBP£300,000,000

GBP£266,391,000

2.125% Notes due 2026

ISIN: XS1138360166

EUR�750,000,000

EUR�692,780,000

3.450% Notes due 2026

CUSIP: 931427AQ1

ISIN: US931427AQ19

US$1,447,286,000

US$1,138,346,000

8.125% Notes due 2029

CUSIP: 931427AW8

ISIN:

US931427AW86

US$750,000,000

US$719,345,000

3.200% Notes due 2030

CUSIP:

Ìý931427´¡³§7

Ìý

ISIN: US931427AS74

US$500,000,000

US$425,217,000

4.500% Notes due 2034

CUSIP: 931427AB4

ISIN:ÌýUS931427AB40

US$303,296,000

US$271,893,000

4.400% Notes due 2042 (Walgreen Co.)

CUSIP: 931422AK5

ISIN: US931422AK51

US$239,422,000

US$211,165,000

4.800% Notes due 2044

CUSIP: 931427AC2

ISIN: US931427AC23

US$659,683,000

US$638,970,000

4.650% Notes due 2046

CUSIP: 931427AR9

ISIN: US931427AR91

US$298,616,000

US$291,890,000

4.100% Notes due 2050

CUSIP: 931427AT5

ISIN: US931427AT57

US$640,372,000

US$630,167,000

(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.

FAQ

What is the new expiration time for WBA's tender offer?

The tender offer expiration time has been extended to 5:00 PM ET on August 27, 2025.

How many WBA notes have been tendered so far?

Substantial portions of all note series have been tendered, with participation rates between 85% and 98% across different series. For example, GBP£266.4M of the 2025 Notes and EUR�692.8M of the 2026 Notes have been tendered.

Can investors still withdraw their WBA notes from the tender offer?

No, the withdrawal deadline of 5:00 PM ET on August 4, 2025 has already passed, and tendered notes cannot be withdrawn.

What happens to WBA notes that are not tendered?

Untendered notes may be redeemed, defeased, or left outstanding after the merger closes. If defeased, holders will continue receiving scheduled interest and principal payments but will lose certain covenant protections.

Is WBA's tender offer guaranteed to be completed?

No, the tender offer completion is contingent on the merger closing and satisfaction of other general conditions as described in the Offer to Purchase document.
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