Why Walgreens Boots Alliance Stock Sank by Almost 5% Today

No investor likes it when a potential buyout deal for one of their holdings hits a serious roadblock. This is apparently happening to Walgreens Boots Alliance (NASDAQ: WBA), according to a media report. So, the market aggressively traded out of the pharmacy chain operator's stock on Monday. It fell by nearly 5% in price, a notably steeper decline than the 1.5% dip of the S&P 500 index on the day.CNBC's David Faber reported live and on-air that unnamed sources told him that a looming arrangement between Walgreens and private equity firm Sycamore Partners for the latter to buy the former is "mostly dead."That comes after a widely disseminated report in The Wall Street Journal in mid-December last year stating that the two sides were in discussions to take Walgreens private. The financial newspaper, citing "people familiar with the matter," whom it did not identify, said at the time that a deal could be agreed upon as soon as early 2025.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool