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00:02Shares of Walgreens climbed 20% Tuesday after reports emerged that the company is in talks
00:07to sell itself to private equity firm Sycamore Partners. The Wall Street Journal reported that
00:12Sycamore Partners is in talks to acquire Walgreens with plans to divest parts of the
00:17business or collaborate with partners. The deal could be finalized early next year.
00:21Walgreens recently announced plans to close 1,200 stores by 2026 amid challenges such as
00:27declining reimbursement rates and increased competition. CEO Tim Wentworth has implemented
00:32cost-cutting measures and scaled back the company's stake in Village MD.
00:35For all things money, visit Benzinga.com slash GSTV.
