Walgreens Stock Jumps on Talk of Potential Sale | Global News Avenue

Walgreens Boots Alliance (world boxing associationShares of the troubled pharmacy chain soared Tuesday afternoon on reports that it was in talks to sell to Sycamore Partners.

wall street journal According to reports, Walgreens and private equity firm “We have been discussing a deal that could be completed early next year, assuming negotiations don’t break down.”

Sycamore “may sell part of the business or work with a partner,” Magazine additional.

Walgreens to close 1,200 stores over next three years

In October, Walgreens announced plans Closing approximately 1,200 stores Over the next three years, including 500 fiscal 2025.

Affected by this news, Walgreens (Walgreens) shares recently rose 18% to $10.48, but are still down 60% this year. The company is currently Market value About $8 billion, but nine years ago it was worth more than $100 billion.