Walgreens Inventory Jumps on Discuss of Potential Sale

Walgreens Boots Alliance (WBA) shares soared Tuesday afternoon on a report that the struggling pharmacy chain is in talks to promote itself to Sycamore Companions.

The Wall Road Journal reported that Walgreens and the non-public fairness agency “have been discussing a deal that may very well be accomplished early subsequent yr, assuming talks do not collapse.”

Sycamore “would seemingly unload items of the enterprise or work with companions,” the Journal added.

Walgreens Closing 1,200 Shops in Subsequent Three Years

In October, Walgreens introduced plans to shut about 1,200 shops over the subsequent three years, together with 500 in fiscal 2025.

Walgreens shares just lately jumped 18% on the information to $10.48, however they’re nonetheless down 60% this yr. The corporate’s present market capitalization is about $8 billion, however it was price greater than $100 billion 9 years in the past.