{"id":253619,"date":"2025-03-07T03:38:09","date_gmt":"2025-03-07T03:38:09","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/03\/07\/boots-owner-to-be-taken-private-under-10bn-deal\/"},"modified":"2025-03-07T03:38:09","modified_gmt":"2025-03-07T03:38:09","slug":"boots-owner-to-be-taken-private-under-10bn-deal","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/03\/07\/boots-owner-to-be-taken-private-under-10bn-deal\/","title":{"rendered":"Boots owner to be taken private under $10bn deal"},"content":{"rendered":"
\"Boots<\/div>


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The US owner of high street chemist Boots says it will be taken private in a $10bn (\u00a37.8bn) deal.<\/p>\n

The move brings to an end nearly a century of trading on public markets for the Walgreens Boots Alliance.<\/p>\n

It has seen its debt grow as cost-conscious customers chose to shop online and opted for cheaper products.<\/p>\n

Around 300 stores of the pharmacy chain were recently closed across the UK<\/a> in an attempt to consolidate its business.<\/p>\n<\/div>\n

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There are now 1,900 Boots stores left in the UK.<\/p>\n

The total value of the transaction could be worth up to $23.7bn, including debt and possible payouts down the line.<\/p>\n

Under the deal, US private equity firm Sycamore Partners will pay $11.45 per share for Walgreens. That is more than what its shares are currently worth on the US stock market.<\/p>\n

Shares of Walgreens rose by nearly 6% in extended trading in New York.<\/p>\n

The deal is expected to close in the fourth quarter of this year.<\/p>\n

Tim Wentworth, CEO of Walgreens, said in a statement<\/a> that the firm was navigating the “challenges of a rapidly evolving pharmacy industry and an increasingly complex and competitive retail landscape”.<\/p>\n

“While we are making progress against our ambitious turnaround strategy, meaningful value creation will take time, focus and change that is better managed as a private company,” he added.<\/p>\n

It is unclear what the deal would mean for Boots and its UK operations.<\/p>\n

The Illinois-based Walgreens took a 45% stake in Boots in 2012.<\/p>\n

It bought out the remainder of the firm two years later in a deal that valued Boots at around \u00a39bn.<\/p>\n

Walgreens also comprises its namesake US retail business, specialty pharmacy group Shields Health Solutions and healthcare provider VillageMD.<\/p>\n

In recent years, the company faced mounting challenges as customers turned to cheaper rivals for groceries and prescriptions.<\/p>\n

In 2022, Walgreens put Boots up for sale but later dropped these plans<\/a>, saying buyers were unable to raise enough funds to buy the pharmacy business.<\/p>\n

Last October, it announced that it would shut 1,200 Walgreens stores in the US over the next three years under an ambitious cost-cutting plan.<\/p>\n<\/div>\n


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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The US owner of high street chemist Boots says it will be taken private in a $10bn (\u00a37.8bn) deal. The move brings to an end nearly a century of trading on public markets for the Walgreens Boots Alliance. It has seen its debt grow as cost-conscious customers chose to shop online and opted for cheaper […]<\/p>\n","protected":false},"author":2,"featured_media":253620,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/ichef.bbci.co.uk\/news\/1024\/branded_news\/44fd\/live\/2d55cd20-fae4-11ef-b5f0-f3d4ab3f4939.jpg","fifu_image_alt":"","footnotes":""},"categories":[604],"tags":[196220,18655,2294,5900,1665],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/253619"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=253619"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/253619\/revisions"}],"predecessor-version":[{"id":253621,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/253619\/revisions\/253621"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/253620"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=253619"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=253619"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=253619"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}