Walgreens Boots Alliance (WBA) said Thursday it agreed to be taken private in a $10 billion deal with private equity firm Sycamore Partners.
Walgreens Boots Alliance on Thursday entered into an agreement with private equity firm Sycamore Partners to go private. The deal is valued at $10 billion.
After nearly a century as a publicly traded company, drugstore chain Walgreens is going private as part of a roughly $10 billion buyout deal.
CNBC's Seema Mody talks report Walgreen's made a deal with Sycamore Partners to go private.
For decades, investors have been able to rely on growing dividend payments from pharmacy retailer Walgreens Boots Alliance (WBA -0.78%). But earlier this year, the company announced that it would be suspending its dividend.
Walgreens Boots Alliance (WBA) closed at $10.75 in the latest trading session, marking a -0.78% move from the prior day.
Shares of Walgreens Boots Alliance (WBA 5.60%) rallied 7.6% on Tuesday, as of 2 p.m. ET.
Negotiations are in advanced stages, with both sides aiming to seal the agreement as soon as Thursday, according to the Wall Street Journal.
Walgreens Boots Alliance Inc shares surged over 7% on Tuesday following a report the drugstore chain could be taken private through a takeover this week. According to the Wall Street Journal, Sycamore Partners was closing in on a deal to buy Walgreens for between $11.30 and $11.40 a share in cash.
Walgreens Boots Alliance Inc (NASDAQ:WBA) was last seen up 7.1% at $10.99, amid news the embattled drugstore giant is nearing a $10 billion deal with private equity firm Sycamore Partners that would take it private, possibly as soon as Thursday.
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 taken private for around $10 billion.
A share price of between $11.30 and $11.40 has been discussed and a deal could be reached as soon as Thursday, a media report says