Pharmacy chain Walgreens Boots Alliance (WBA) shares surged on Tuesday following reports that talks with private equity firm Sycamore Partners may be back on track. The deal, previously considered “mostly dead,” is now reported to be alive by CNBC’s David Faber. In December, the companies first announced plans to explore a potential sale. Since then, Walgreens has shuttered 1,200 underperforming stores and temporarily suspended its quarterly dividend to conserve cash. Sycamore had been discussing debt financing with other firms to fund the deal. The news boosted Walgreens shares by over 12% in afternoon trading, bringing their value back from a loss of about half over the last year.
Source: https://www.investopedia.com/walgreens-stock-jumps-on-report-of-possible-sycamore-deal-11681534