A PYMNTS Company

US: KKR makes a formal offer to buy Walgreens

By  |  November 12, 2019

Private equity firm KKR reportedly has made a formal overture to Walgreens Boots Alliance (WBA) about a leveraged buyout.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Citing unnamed sources, Bloomberg reported Monday, November 11, that KKR is readying a proposal to take WBA private. Though talks have been initiated, the companies may decide not to pursue a deal, the report noted. Bloomberg reported last week that Stefano Pessina, executive vice chairman and CEO of WBA, has been mulling a potential buyout deal with a financial adviser.

    A buyout of WBA, which operates the US drugstore chains Walgreens and Duane Reade, would be the largest ever. The Deerfield, Illinois-based company has a market capitalization of more than US$56 billion and holds nearly US$17 billion in debt.

    Walgreens Boots has been reviewing a potential deal with a financial adviser to take the company private amid buyout interest. Some buyout firms looked, but decided against pursuing such a big deal, reported Bloomberg.

    Full Content: Bloomberg

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.