People walk past a Walgreens pharmacy on November 3, 2024 in Brookline, Massachusetts.
Danielle DeVries | CNBC
shares walgreens Jumped nearly 25% on Tuesday Report The company is in talks to sell to private equity firm Sycamore Partners.
Walgreens and Sycamore have been discussing a deal that could close early next year, the Wall Street Journal reported, citing people familiar with the matter.
The report comes at a difficult time for the retail pharmacy giant.
Walgreens — squeezed by transformation COVID-19 pandemicone Leadership reshufflepharmacy reimbursement pressure and its wavering push into health care — performing below Wall Street’s earnings expectations two consecutive quarters.
In October, Walgreens said it planned to close about 1,200 pharmacies over the next three years, including 500 in fiscal 2025 alone. Walgreens has about 8,700 stores in the United States, a quarter of which it says are unprofitable.
Walgreens has reportedly been considered a potential private equity target in the past.
Here’s how private equity firm KKR performed in 2019: $70 billion acquisition The offer was made to the company, the Financial Times and Bloomberg reported at the time.
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