Walgreens shares surge after reported bid from KKR

Monday, 11. November 2019 19:04

Walgreens Boots Alliance Inc.'s stock soared by over 6% on Monday following a reported acquisition offer from KKR & Co. Inc. that could end up being the largest private takeover recorded.

The market value of Walgreens Boots Alliance is estimated at $56 billion and it has $16.8 billion of debt, according to the Bloomberg report. If KKR decides to buy out shareholders of the holding company from Illinois, the amount of financing needed to finalize the deal would surpass the previous record private acquisition of TXU Corporation by KKR, TPG Capital and Goldman Sachs for $45 billion, the report noted.

Walgreens Boots Alliance's shares jumped by 6.38% on the news, going for $63.00 at 12:58 pm ET.

Related Links: Walgreens Boots Alliance Inc.
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Breaking the News / MS