Why Walgreens Boots Alliance Rallied Today
Shares of Walgreens Boots Alliance (NASDAQ: WBA) rallied 7.6% on Tuesday, as of 2 p.m. ET.
It appears that a take-private deal with private equity firm Sycamore Partners is getting closer to fruition, with Bloomberg reporting "finishing touches" are being put on the terms of the deal.
It was first reported that Sycamore was circling the beaten-down pharmacy giant for a takeover since December. But since that December spike, Walgreens' stock retreated, as skepticism emerged following the Department of Justice suing the pharmacy giant in late January over opioid prescription issuance.
Source Fool.com
