Private equity firm reportedly makes offer to acquire Walgreens

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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