NEW YORK (AP) – Walgreens Boots Alliance says that it agreed to be acquired by the Sycamore Partners Investment Capital Company while the difficulty in difficulty seeks to turn around after years losing money.
Walgreens said Thursday that Sycamore will pay $ 11.45 per share, giving the agreement a capital value just under $ 10 billion. Shareholders could possibly receive up to $ 3 per additional share under certain conditions.
A buyout to take the private pharmacy chain would give it more flexibility to make changes to improve your business without worrying about the reaction of Wall Street. The company has already made major changes as it seeks to reverse its business. Walgreens has been a public company since 1927.
Walgreens, founded in 1901, was faced with a prescription thin reimbursement, an increase in costs, a persistent flight and buyers sensitive to inflation who are looking for good deals elsewhere. Walgreens is in the early stages of a plan aimed at ending 1,200 of its approximately 8,500 American locations.
The company Deerfield, Illinois, had already lost about a thousand American stores since it went to almost 9,500 after buying places of Rite in 2018.
Originally published:
California Daily Newspapers
