Walgreens Shares Surge Over 26% as It Enters Advanced Talks to Go Private with Sycamore Partners

Dec 10, 2024, 05:41 PM

Walgreens Boots Alliance Inc. is reportedly in advanced talks to sell itself to private equity firm Sycamore Partners, a deal that would take the pharmacy chain off the public market and could close early next year. The news caused Walgreens shares to surge over 26% before trading was halted due to volatility. Once a component of the Dow Jones Industrial Average and valued at over $100 billion in 2015, Walgreens now has a market capitalization of under $8 billion. The discussions indicate a significant shift for one of America's largest pharmacy chains amid ongoing industry challenges.