Mr. Executive Chairman SP is increasing his ownership stake in the company from 17% up to 30%. I wonder what his play is here? Per a news article it sounds like he plans to stay on at Walgreens post sale.
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It remains to be seen whether SP/Sycamore plan to try and save the company or sell it for scrap.
He won't go away because he is greedy, bottom line. Make no mistake, he wants the company to go private so he can follow a repeatable pattern he's done with so many other companies. He is very smart with this stuff....but ultimately he's a sl--eball who only cares about filling his own pocket. He's betrayed so many people over the years...all in the name of $$$$$$$$$
Who would you pick to have a say in the future of the company? SP who invested billions in Walgreens, or crooks like Tim and Neal who make millions by destroying and selling reputed companies? SP is lesser of the evils any day
If the value of Walgreens has decreased significantly then that means that SP has lost money. Doubling down on them by increasing your stake is simply trying to recoup losses during or after the sale of the company. The interesting part is about him staying on in some capacity with Walgreens after the sale. So what’s his endgame here?
SP has the right to have a say in the company. He has invested a lot of money in Walgreens and has a stake in its success. The management is here to make some money fast by selling it off. They have no stake in its success.
https://www.ft.com/content/ef898a28-ed96-45b5-baae-7569b8b778a3
Link to an article about this
It's obvious that SP wants to keep having a say in Walgreens policy
Ana Wintour is still running the magazine Vogue even though she is 75 years old. How can a 75 year old be the leader of fashion?
The baby boomers do not want to let go.
The value of the company went from $100 billion to $8 billion and stock has lost over 80% in five years. Let him take more stock/ownership. He likes losing money ...what a fool. Hasn't he lost enough money in Walgreens I guess not. There are so many ways to make money in the world and he has lost a ton in Walgreen's yet doubles down on them. GOOD LUCK you fool.
On the face of it, sounds like throwing good money after bad. Maybe Pessina hopes to recoup some of his losses when Sycamore parts Walgreens out.
Sorry - I am d-mb and don't quite understand what this means. He is a sl--eball, obviously - but what does him doubling his stake mean for this sham of a company?
Maybe now the doubters of just how slimy SP, RB, TB, TW, et al are will be quiet.
Where is the SEC??
I here is the DOJ???
He has 144 million shares of wag. Stock. Once deal closes they’ll pay him 11.45 per share. If they get rid of boots and village MD, he’ll get another 3 dollars more per share. Whatever Sycamore does with Wag. He’ll get paid again. He’s double dipping. Greed is good.
Pessina bought Walgreens using our money.
Pessina did all of this to his prior companies.
Pessina has always been in charge and will continue to be in charge. This is his controlled demolition and he has always benefited and will continue to benefit.
He doesn't know how to cut his losses. Dragged us down with his own dementia and nepo hires.
@ac+1jpmry6hc That seems to be his end game is my opinion. He wants more control over the company post sale, and owning 30% of the company would certainly give him bargaining power to negotiate a cushy job with Sycamore as head of the Walgreens department. This way he can still exert his influence over the company. He’ll probably get a seat on Sycamore’s board as well. This is just my guess.
Be thankful to the guy for investing more of his money in Walgreens even after the destruction of the company by management. SP is the biggest loser from Walgreens demolition along with shareholders and employees. Senior management have their golden parachutes.
Show me the money. He’ll probably have more control.
At age 83 don't you have anything better to do with your life when you have more than enough wealth? Than to keep destroying a company. Just go away and retire and enjoy life.
Hasn't this guy caused enough problems and grief to this company. Why can't he just go away and retire and enjoy his few years left. Instead of ruining a company that used to matter and a lot of people's livelihood. It says a lot for someone to buy this titanic falling company and keep him involved when look what he done.