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Walgreens Boots Alliance Inc. (NASDAQ:WBA) rose over 7% in premarket on Tuesday as it is on the verge of finalizing an agreement with private-equity firm Sycamore Partners to take the drugstore chain private.
What Happened: The deal is approximately valued at $10 billion, according to a report by the Wall Street Journal. The two parties are reportedly aiming to complete the transaction as early as Thursday, contingent on avoiding any last-minute complications.
Discussions have centered on Sycamore Partners paying between $11.30 and $11.40 per share in cash. The potential deal may also include contingent value rights, which would provide additional value to shareholders if certain performance targets are met in the …
