Shares of Walgreens climbed 20% Tuesday after reports emerged that the company is in talks to sell itself to private equity firm Sycamore Partners. The Wall Street Journal reported that Sycamore Partners is in talks to acquire Walgreens, with plans to divest parts of the business or collaborate with partners. The deal could be finalized early next year. Walgreens recently announced plans to close 1,200 stores by 2026 amid challenges such as declining reimbursement rates and increased competition. CEO Tim Wentworth has implemented cost-cutting measures and scaled back the company’s stake in VillageMD.
