Walgreens Finalizes $10 Billion Deal to Go Private with Sycamore

Walgreens Boots Alliance is transitioning to private ownership in a deal worth up to $23.7 billion following a significant decline in market capitalization. Sycamore Partners, a private equity firm, will purchase Walgreens at $11.45 per share in cash, with potential additional payments in the future. Walgreens intends to shut down roughly 1,200 locations by 2027, as a substantial portion of its stores are noted as unprofitable. CEO Tim Wentworth emphasized that achieving significant value will be a gradual process and is more effectively handled as a private entity.