Walgreens considering selling company to private equity firm, according to published report [View all]
Source: Chicago Tribune
UPDATED: December 10, 2024 at 6:51 PM CST
Walgreens Boots Alliance is considering selling the company to a private equity firm – a move that would take the publicly traded company private, according to a Wall Street Journal report.
Deerfield-based Walgreens has been in discussions with Sycamore Partners over a deal that could be completed early next year, the Journal wrote, citing unnamed “people familiar with the matter.”
A Walgreens spokesperson declined to comment on the report Tuesday, telling the Tribune, “we don’t comment on rumors or speculation about our business.” A spokesperson for Sycamore also declined to comment. Walgreens’ stock shot up 21% on the news early Tuesday afternoon.
New York-based Sycamore specializes in retail and consumer investment, and would likely sell off pieces of the business or work with partners, the Journal reported. The report follows years of struggles for the massive retail pharmacy chain, some of which are related to industrywide challenges over reimbursements for medications, while others stem from past moves made by Walgreens.
Read more: https://www.chicagotribune.com/2024/12/10/walgreens-private-equity-firm/
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