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Key Takeaways
- Walgreens agreed to a $10 billion deal to be taken personal by Sycamore Companions.
- The pharmacy chain’s inventory popped in prolonged buying and selling Thursday following the information.
- The deal comes after a troublesome stretch for Walgreens, saying a plan final 12 months to shutter some 1,200 “underperforming” shops.
Walgreens Boots Alliance (WBA) stated Thursday it agreed to be taken personal in a $10 billion take care of personal fairness agency Sycamore Companions.
Sycamore stated it might pay $11.45 per share for the troubled drugstore chain, about 8% above Thursday’s closing worth. The inventory rose greater than 5% in prolonged buying and selling to $11.19.Â
Traders might additionally obtain as much as $3 extra per share in proceeds from the eventual sale of Walgreens’ main care companies, the corporate stated, which might increase the worth of the deal as much as almost $24 billion. The transaction is predicted to shut within the fourth quarter of 2025.Â
Walgreens shares rose earlier this 12 months following earlier reviews of talks to take the pharmacy chain personal. The deal comes after a troublesome stretch for Walgreens, which introduced in October a plan to shutter some 1,200 “underperforming” shops over the following three years. Its inventory had misplaced about half its worth previously 12 months although Thursday’s shut.
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