Particle.news
Download on the App Store
6 ARTICLES
·
2mo ago

Walgreens Nears $10 Billion Deal to Go Private

The pharmacy chain is finalizing a sale to Sycamore Partners, signaling a major shift after years of financial struggles and declining market value.

Image
Image
Last year Walgreens shelved plans for a London float of Boots, one of its best-performing assets
Image

Overview

  • Boots Alliance is in advanced talks with Sycamore Partners to be taken private for approximately $10 billion, with a deal potentially closing as soon as Thursday.
  • Sycamore Partners is expected to pay between $11.30 and $11.40 per share in cash, with possible contingent value rights tied to future financial performance.
  • The deal would see Sycamore retain Walgreens’ U.S. retail pharmacy business while potentially selling or taking public other company segments, such as Boots in the UK.
  • Walgreens has faced significant challenges in recent years, including store closures, declining stock value, and legal issues related to its role in the opioid crisis.
  • This marks a dramatic fall for the company, whose market value has dropped from over $100 billion in 2015 to under $10 billion today, reflecting industry pressures and strategic missteps.