NEW YORK (AP) — Walgreens Boots Alliance says it has agreed to be acquired by the personal fairness agency Sycamore Companions because the struggling retailer appears to show itself round after years of dropping cash.
Walgreens stated Thursday that Sycamore can pay $11.45 per share, giving the deal an fairness worth slightly below $10 billion. Shareholders may ultimately obtain as much as one other $3 per share beneath sure situations.
A buyout to take the pharmacy chain personal would give it extra flexibility to make modifications to enhance its enterprise with out worrying about Wall Avenue’s response. The corporate has already been making some large modifications because it seeks to show round its enterprise. Walgreens has been a public firm since 1927.
Walgreens, based in 1901, has been coping with skinny prescription reimbursement, rising prices, persistent theft and inflation-sensitive buyers who’re searching for bargains elsewhere. Walgreens is within the early levels of a plan to shut 1,200 of its roughly 8,500 U.S. areas.
The Deerfield, Illinois, firm had already shed a couple of thousand U.S. shops because it grew to just about 9,500 after shopping for some Ceremony Assist areas in 2018.
Initially Revealed: March 6, 2025 at 6:09 PM EST
