Walgreens Boots Alliance says it has agreed to be acquired by the private equity firm Sycamore Partners as the struggling retailer looks to turn itself around after years of losing money.
Walgreens Boots Alliance shares are jumping in premarket trading Tuesday, on a report that the troubled drugstore chain is nearing a deal with Sycamore Partners to be taken private for around $10 billion.
The Walgreens Boots Alliance Friday said the drug store chain is going private, acquired by private equity company Sycamore Partners in a $23.7 billion deal described as a "definitive agreement."
Next steps under Sycamore's watch could include a breakup of Walgreens' major units, meaning the multinational combo that once was touted as The Next Big Thing could now fall by the wayside.
NEW YORK (AP) — Wall Street is higher in late trading on Friday, but only after careening through another wild day. It's a fitting ending to a brutal week of scary swings dominated by worries about the U.S. economy and uncertainty about what President Donald Trump will do with tariffs.