Reported 2 days ago
Walgreens Boots Alliance has agreed to be acquired by private equity firm Sycamore Partners for $11.45 per share, amounting to an equity value of nearly $10 billion. The buyout strategy aims to provide the struggling retailer more flexibility to implement changes without market pressure, amid ongoing difficulties like low prescription reimbursements and rising costs. The deal includes a potential additional payout for shareholders and represents a significant increase from its share price late last year. This acquisition follows Walgreens' plans to close numerous stores and shift its focus on improving cash flow as part of a broader turnaround effort.
Source: YAHOO