Walgreens completes tender offer for Option Care

By Lisa Kerner

Charlotte, N.C., Aug. 20 - Walgreens Co.'s wholly owned subsidiary Bison Acquisition Sub Inc. completed its subsequent tender offer for Option Care, Inc. as planned on Aug. 17. A total of about 32.7 million shares, or 94%, of Option Care common stock were tendered.

The initial tender offer expired at midnight ET on Aug. 13, according to a company news release.

Walgreens will complete the acquisition of Option Care by means of a short-form merger. Each remaining outstanding Option Care share will be converted into the right to receive $19.50 in cash, without interest.

Following the merger, Option Care will become a wholly owned subsidiary of Walgreens and Option Care common stock will cease trading on the Nasdaq.

Walgreens is a Deerfield, Ill.-based drugstore chain with 5,850 stores in 48 states.

Based in Buffalo Grove, Ill., Option Care provides out-of-hospital drug injection services.

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