Walgreens Stock Jumps 17.74% on Potential Sale to Sycamore Partners

Dec 11, 2024, 01:02 PM

Walgreens Boots Alliance Inc. ($WBA) has experienced a significant surge in its stock price, jumping 17.74% on Tuesday, following reports that the company is in talks to sell itself to private equity firm Sycamore Partners. The Wall Street Journal reported that a deal could potentially be completed early next year, marking a significant turnaround for Walgreens, whose market cap has shrunk from over $100 million in 2015. This news comes amidst broader market movements, with Walgreens shares experiencing a pre-market drop of 1.6% after the previous day's gains. The potential acquisition by Sycamore Partners could be a strategic move to capture any remaining upside in the struggling drugstore chain, which has faced challenges in the retail sector.