{"id":135647,"date":"2024-12-11T02:23:08","date_gmt":"2024-12-10T19:23:08","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=135647"},"modified":"2024-12-11T02:23:08","modified_gmt":"2024-12-10T19:23:08","slug":"walgreens-stock-climbs-on-sycamore-partners-deal-report","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=135647","title":{"rendered":"Walgreens stock climbs on Sycamore Partners deal report"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div id=\"RegularArticle-ArticleBody-5\" data-module=\"ArticleBody\" data-test=\"articleBody-2\" data-analytics=\"RegularArticle-articleBody-5-2\"><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"\/><\/p>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-108057955\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div>\n<p>People walk by a Walgreens on November 3, 2024 in Brookline, Massachusetts.<\/p>\n<p>Danielle DeVries | CNBC<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>Shares of <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\"><a href=\"https:\/\/www.cnbc.com\/quotes\/WBA\/\">Walgreens<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\" aria-label=\"Add To Watchlist\" data-testid=\"dropdown-btn\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"\/><\/button><\/span><\/span><\/span> jumped about 20% on Tuesday on a <a href=\"https:\/\/www.wsj.com\/business\/deals\/walgreens-sycamore-partners-private-equity-deal-5d14c920\" target=\"_blank\" rel=\"noopener\">report<\/a> that the company is in talks to sell itself to private equity firm Sycamore Partners.\u00a0<\/p>\n<p>Walgreens and Sycamore have been discussing a deal that could be completed early next year, The Wall Street Journal reported, citing people familiar with the matter. New York-based Sycamore would likely sell off pieces of Walgreens&#8217; business or work with partners, the Journal reported.<\/p>\n<p>A Walgreens spokesperson declined to comment on the reported talks.<\/p>\n<p>The report comes during a rough period for the retail pharmacy giant. The company&#8217;s stock was down more than 60% for the year before its climb Tuesday.<\/p>\n<p>Walgreens \u2014 squeezed by the transition out of <a href=\"https:\/\/www.cnbc.com\/coronavirus\/\">the Covid pandemic<\/a>, a <a href=\"https:\/\/www.cnbc.com\/2023\/09\/01\/walgreens-ceo-roz-brewer-steps-down.html\">leadership shakeup<\/a>, pharmacy reimbursement headwinds and its wobbly push into health care \u2014 has underperformed Wall Street&#8217;s earnings expectations for <a href=\"https:\/\/www.cnbc.com\/2023\/06\/27\/walgreens-wba-earnings-q3-2023.html\">two straight quarters<\/a>. Walgreens&#8217; pharmacy business in particular has been <a href=\"https:\/\/www.cnbc.com\/2024\/08\/18\/why-walgreens-cvs-retail-pharmacies-are-struggling.html\">flailing<\/a> due to falling reimbursement rates for prescription drugs and several factors pressuring the front of the store, such as inflation and increased competition.<\/p>\n<p>The company is trying to regain its footing with a new CEO, health-care industry veteran Tim Wentworth. Since stepping into the role in October 2023, Wentworth has moved to slash costs at Walgreens.<\/p>\n<p>In October, Walgreens said it plans to <a href=\"https:\/\/www.cnbc.com\/2024\/10\/15\/walgreens-wba-earnings-q4-2024.html\">close roughly 1,200 of its drugstores<\/a> over the next\u00a0three years, including 500 in fiscal 2025 alone. Walgreens has around 8,700 locations in the U.S., a quarter of which it says are unprofitable. The company has also scaled back its push into primary care by cutting its stake in\u00a0primary care provider VillageMD.\u00a0<\/p>\n<p>Walgreens has reportedly been seen as a potential private equity target in the past.\u00a0<\/p>\n<p>In 2019, private equity firm KKR made a roughly <a href=\"https:\/\/www.ft.com\/content\/9824af60-049d-11ea-a984-fbbacad9e7dd\" target=\"_blank\" rel=\"noopener\">$70 billion buyout<\/a> offer to the company, the Financial Times and Bloomberg reported at the time.\u00a0<\/p>\n<\/div>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.cnbc.com\/2024\/12\/10\/walgreens-shares-pop-on-report-pharmacy-chain-could-sell-itself-to-pe-firm-sycamore.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>People walk by a Walgreens on November 3, 2024 in Brookline, Massachusetts. Danielle DeVries | CNBC Shares of Walgreens jumped about 20% on Tuesday on a report that the company &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=135647\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-135647","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/135647","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=135647"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/135647\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=135647"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=135647"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=135647"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}