Private equity firm reportedly makes offer to acquire Walgreens

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Private equity firm reportedly makes offer to acquire Walgreens

By Marianne Wilson - 11/11/2019
Walgreens storefront

The rumors that Walgreens Boots Alliance may be going private are heating up.

In what would be the largest leveraged buyout in history, private equity firm KKR & Co. has formally made an offer to buy the global pharmacy and retail giant, reported Bloomberg. A buyout would give Walgreens, which is facing increased competition from rival CVS Health Corp., Amazon and Walmart, the ability to evolve in the fast-changing retail and health care landscape without facing the scrutiny of the public market.

Walgreens has a market value of about $56 billion and $16.8 billion of debt, There is no certainty the deliberations will lead to a definitive takeover offer, Bloomberg noted. 

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