THE AMERICA ONE NEWS
Jun 1, 2025  |  
0
 | Remer,MN
Sponsor:  QWIKET 
Sponsor:  QWIKET 
Sponsor:  QWIKET: Elevate your fantasy game! Interactive Sports Knowledge.
Sponsor:  QWIKET: Elevate your fantasy game! Interactive Sports Knowledge and Reasoning Support for Fantasy Sports and Betting Enthusiasts.
back  
topic
Fox Business
Fox Business
6 Mar 2025


Drugstore chain Walgreens Boots Alliance announced on Thursday that it will go private.

The struggling company entered into an agreement with private equity firm Sycamore Partners valued at $10 billion. Sycamore will pay $11.45 per share, a premium of 8% to the stock's closing price of $10.60 on Thursday. Shares of the company rose nearly 6% in extended trading.

Walgreens shareholders could also receive an additional $3 in cash from future monetization of the company's debt and equity interests in VillageMD.

The company's market value has shrunk to just more than $9 billion from almost $100 billion a decade ago as margins on drug prices fell and consumers shifted to cheaper rivals Amazon and Walmart to fill their prescriptions and purchase toiletries.

And when rivals diversified into insurance or prescription management, Walgreens invested billions buying other pharmacy chains despite the trend away from in-store shopping.

As a result, the second-largest U.S. pharmacy chain's debt and lease obligations have ballooned to almost $30 billion.

Reuters contributed to this report.