Walgreens Boots Alliance (WBA) saw its share prices rise by 14.02% on Tuesday to close at $11.06, driven by optimism over the potential acquisition by private equity firm Sycamore Partners.
The deal, which was reported in December last year, is expected to be successfully closed this year if negotiations don’t falter. According to reports, Sycamore would likely sell off or partner with certain parts of the business.
WBA announced plans to close around 1,200 stores over three years, including 500 for this year alone, as it tries to turn around its struggling business. The company ranks 6th on our list of firms starting the shortened trading week with impressive gains.
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Source: https://finance.yahoo.com/news/why-walgreens-boots-alliance-wba-131401292.html