Overview

• Walgreens Boots Alliance (WBA) has agreed to a $10 billion takeover by private equity firm Sycamore Partners, valuing the transaction at nearly $24 billion when including debt and potential payouts.
• Sycamore is expected to restructure WBA by potentially selling or spinning off its key assets, including Boots, a high-performing UK pharmacy chain with 1,800 locations and 51,000 employees.
• The deal offers Walgreens shareholders $11.45 per share in cash, with an additional $3 per share possible from future asset monetizations.
• Boots, valued at £7 billion in prior discussions, could see interest from private equity firms and other bidders, though no formal sale has been announced yet.
• The transaction is set to close by the fourth quarter of 2025, pending regulatory approvals and a shareholder vote.