Key Takeaways
- Walgreens shares jumped Tuesday following a report the pharmacy chain's talks with private equity firm Sycamore Partners could be back on the table.
- CNBC reported Tuesday that the deal is "alive" after previously being considered "mostly dead."
- Walgreens halted its quarterly dividend late last month to focus on saving cash and improving its financial position.
Walgreens Boots Alliance (WBA) shares jumped Tuesday following a report the pharmacy's possible deal to sell itself to 澳洲幸运5官方开奖结果体彩网:private equity firm Sycamore Partners may b🌌e back on the table.
CNBC's David Faber reportedly said on the network Tuesday morning that the deal is "alive," after being considered "mostly dead" a few weeks ago.
The talks between the pharmacy chain and Sycamore were 澳洲幸运5官方开奖结果体彩网:first reported in December, withThe Wall Street Journal saying Sycamore would likely sell off pieces of the company's business. In October, Walgreens 澳洲幸运5官方开奖结果体彩网:announced a plan to shutter some 1,200 "underper𒆙formi🅠ng" stores, including 500 in fiscal 2025.
Walgreens Suspended Dividend in January
Late last month, the retailer said it was temporarily 澳洲幸运5官方开奖结果体彩网:suspending its quarterly dividend to conserve cash as it looked to turn around its business and refinance some of its debt. Bloomberg also reported last month that Sycamore had been discussing debt financing with other firms to fund the deal.
Walgre❀ens and Sycamore did not immediately respond to requests for comment.
Walgreens shares were up more than 12% in afternoon trading Tuesda⛎y, but have lost about h꧙alf their value over the last 12 months.