(Bloomberg) — Shares of Walgreens Boots Alliance Inc. jumped after The Wall Road Journal reported that the pharmaceutical firm was in talks to promote itself to Sycamore Companions, a non-public fairness agency.
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The inventory jumped 28%, its largest one-day achieve since a minimum of 1980. Walgreens shares misplaced two-thirds of their worth within the 12 months by Monday. This was the worst efficiency of any S&P 500 inventory.
Walgreens declined to touch upon the report.
In October, the pharmacy chain introduced it might shut some 1,200 places over the subsequent three years after posting a $3 billion loss within the fourth quarter attributable to opioid-related costs and write-downs. an funding in China. The corporate's retail division has struggled amid the rise of on-line retailers like Amazon.com and low cost giants Greenback Basic and Costco.
(Up to date shares in second paragraph, further particulars in fourth paragraph.)
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