Walgreens Boots Alliance is closing in on a deal with private-equity firm Sycamore Partners that would take the struggling dr-gstore chain off the public market for around $10 billion, according to people familiar with the matter.
Should Sycamore complete the deal for the whole company, it is expected to maintain the core U.S. retail business and sell off or take public the other parts of the company, the people said.
Source: WSJ
SP brought T & N on to do exactly what they’ve done. Just as he brought RB & VJ in to do exactly what they did. This is the only legitimate TW.
WHERE IS THE SEC AND DOJ????
When did they all, including JB, dump large amounts of shares????????
Stefano is trying to save his investment in the company that has seen a serious drop in value. He has skin in the game. Tim and Neal have no skin in the game. They are here to make quick money from a Walgreens sale. They said they were here to turn the company around. They are doing the opposite. Tim and Neal did the same at Express Scripts.
Why does everyone on this site think Tim and Neal are the drivers of everything? This has Stefano Pessina, our Executive Chairman, written all over it. He owns 17% of WBA stock and is the one who masterminded the creation of WBA in 2014 when he owned Boots Alliance. The news is literally reporting he's the face of negotiations. If you want someone to blame, it's the Billionaire who's built a career on acquisition-based deals.
When would Support Center layoffs happen, assuming this deal goes through?
Retail US is going to be acquired by Sycamore as per the WSJ reports. Other businesses may go public or be sold to other partners. Walgreens is going to split by 3. It is going to have impact on our jobs in a month or two. Time to find prepare for the interviews.
But I thought the "retail turnaround" was working!!! HA!
Why would anyone buy a company that owes the IRS billions, lawsuits nonstop, terrible management workers, company has lost $90 BILLION in value....poor workforce motivation.
They pathetic whatevers over time sure know how to ruin a company...Things are about to change bigtime and for the kool aid drinkers good luck.
Actually it's quite sad.
Where is the SEC?? DOJ??
When did RB, TB, VJ, & SP dump large amounts of shares??????
The Wall Street Journal first reported the potential deal, which it said could be announced as soon as Thursday. Bloomberg News later matched that report.
The company was trading at $22 a share a year ago. The current leadership oversaw a decline of the stock down to $9 and now getting ready to sell the company at $11.30 per share. These crooks destroyed so much shareholder value.
Sears here we come!
Selling for $11.30 a share??? These guys are throwing the company away for cheap.
If that happens, there will be aggressive downsizing of teams. Just look what happened at staples
How much will Tim and Neal pocket from this deal?