Walgreens is going private in a deal with Sycamore Partners, valuing the drugstore chain at approximately $10 billion.
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00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Walgreens is going private in a deal with Sycamore Partners,
00:05valuing the drugstore chain at approximately $10 billion. Walgreens' market value peaked at over
00:10$100 billion in 2015 amid investor confidence in its healthcare business and expansion plans.
00:16Walgreens' market cap had fallen below $8 billion by late 2024 due to competition from CVS,
00:21grocery chains, big box retailers, and Amazon. The company also faced post-pandemic challenges,
00:27pharmacy reimbursement pressures, weaker consumer spending,
00:30and difficulties in its healthcare expansion. Walgreens' exit from the public market
00:36marks the end of its nearly century-long run as a publicly traded company since 1927.
00:41For all things money, visit Benzinga.com slash GSTV.