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Walgreens Agrees To Be Taken Private in $10B Deal
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Key Points
- Walgreens agreed to a private $10 billion deal by Sycamore Partners.
- The pharmacy chain’s shares popped up in Thursday’s expansion trading after the news.
- The deal comes after a tough tide in Walgreens, which announced a plan last year to close about 1,200 “underperforming” stores.
Walgreens Boots Alliance(WBA) said Thursday it agreed to a $10 billion contract with private equity firm Sycamore Partners.
Sycamore said it will pay $11.45 per share for the troubled drugstore chain, 8% above Thursday’s closing price. The stock rose more than 5% in extended trading to $11.19.
Investors can also earn up to $3 from the earnings from the eventual sale of Walgreens’ primary care business, which could increase the value of the deal to nearly $24 billion, the company said. The transaction is expected to close in the fourth quarter of 2025.
Walgreens shares rose earlier this year Previous reports Talks to privatize the pharmacy chain. The deal came after a tough tide for Walgreens, which announced in October Plan to close There are about 1,200 “underperforming” stores over the next three years. Over the past year, its stock has lost about half of its value.
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