Walgreens Shares Skyrocket on Reported Sycamore Partners Negotiations

Walgreens Shares Skyrocket Amid Reports of Advanced Talks with Sycamore Partners

Following reports that private equity company Sycamore Partners was in talks to acquire the pharmacy chain, Walgreens Boots Alliance surged as much as 18% before Tuesday’s market close.

Walgreens Considers Non-Core Asset Sale, Stock Gains Momentum

According to the Wall Street Journal, Walgreens’ stock jumped after it was revealed that the company was in advanced negotiations with private equity firm Sycamore Partners. A possible sale of Walgreens’ non-core businesses is apparently at the center of the talks, indicating a strategy change to streamline operations. As the company looks for ways to unlock value and concentrate on growing its core business, investors’ enthusiastic reaction to the announcement has caused the stock to rise.

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