Walgreens Considers Sale to Sycamore Partners

Walgreens shares surged by nearly 25% following reports that the company is in discussions to sell itself to private equity firm Sycamore Partners. The potential deal, which could be finalized early next year, comes as Walgreens faces challenges such as post-pandemic transitions, leadership changes, and financial underperformance. The company plans to close 1,200 stores over the next three years, with 500 closures in fiscal 2025, as it struggles with unprofitable locations.