The US owner of Boots set to be taken private in a $10 billion deal, ending nearly a century as a publicly traded company.
US private equity firm Sycamore Partners will buy Walgreens Boots Alliance Inc (NASDAQ:WBA, ETR:W8A) for $11.45 per share, a price higher than its current market value.
The total transaction could reach $23.7bn when debt and potential future payouts are included.
Walgreens shares rose 6% on the news, though the company’s market value has fallen by 80% over the past five years.
Boots has been restructuring its UK operations, recently closing around 300 stores, leaving 1,900 locations.
It is unclear what impact the deal will have on the UK business.
Walgreens has struggled with rising debt and growing competition from cheaper rivals. In 2022, it attempted to sell Boots but failed due to financing difficulties. The deal is expected to complete by the end of 2025.