KEY TAKEAWAYS
- Walgreens Boots Alliance shares are jumping in premarket trading Tuesday, on a report that the troubled drugstore chain is nearing a deal with Sycamore Partners to be taken private for around $10 billion.
- Citing people familiar with the situation, The Wall Street Journal said Sycamore would pay between $11.30 a share and $11.40 a share in cash for Walgreens.
- Walgreens and Sycamore Partners didn’t immediately respond to requests for comment.
澳洲幸运5官方开奖结果体彩网:
Walgreens Boots Alliance (WBA) shares are jumping around 5% in premarket trading Tuesday after a report indicated the troubled drugstore chain is nearing a deal with Sycamore Partners to be 澳洲幸运5官方开奖结果体彩网:taken private for around $10 billion.
According to The Wall Street Journal, citing people familiar with the matter, the drugstore company and the private equity firm are targeting a completion of the transaction as soon as Thursday barring a “last-minute snag” that derails the deal. The Journal reported that Sycamore would pay between $11.30 a share and $11.40 a share in cash 🐼for Walgreens and the deal would include “contingent value rights that would increase the value if certain targets are later 🃏reached.”
The Journal also reported that if the deal passes, Sycamore would keep the core U.S. retail business and sell o🏅ff or take public the other parts of the company.
Walgreens and Sycamore Partners didn’t imme♐diately r🅰espond to requests for comment.
Walgreens shares had been rising this year on 澳洲幸运5官方开奖结果体彩网:previous reports that the private-equity firm was in talks to take the drugstore chain private. The company has been struggling, announcing in October a plan to shutter some 1,200 "underperforming" stores over the next three years and temporarily 澳洲幸运5官方开奖结果体彩网:suspending its quarterly dividend to conserve cash earlier this year.
Walgreens shares have gained 10% this year but have lost half their value in the 12 months through Monday.