Walgreens Reportedly Entertaining Buyout Offer

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Walgreens Reportedly Entertaining Buyout Offer

11/11/2019

Bloomberg is reporting that New York-based KKR & Co. has formally approached Walgreens Boots Alliance about potentially taking the retailer private. It is rumored that if the deal was to come to fruition it would be the largest leveraged buyout in history.

The buyout would give Walgreens a massive influx of cash it could use to up the stakes in its battle with CVS, Amazon and Walmart in the crowded pharmacy space. Pharmacy customers are increasingly demanding digital offerings and near instantaneous fulfillment of both prescription drugs and over the counter products.

News of the potential buyout sent Walgreens stock prices soaring, increasing the stock value to more than $62 a share, a 6% increase.