WALGREENS $WBA (+0.88%) IN TALKS TO GO PRIVATE WITH SYCAMORE PARTNERS – WSJ

Walgreens $WBA is reportedly in advanced talks to sell itself to private equity firm Sycamore Partners in a deal that could close early next year.

Once valued at over $100B in 2015, Walgreens now has a market cap of just $7.5B after pressures on its pharmacy and retail businesses sent shares down ~70% YTD.

Sycamore, known for retail investments, may sell parts of Walgreens or bring in partners post-acquisition. This follows Walgreens' struggles with thin pharmacy margins, retail competition, and the fallout from its 2015 Boots acquisition.

The deal would mark a major shakeup for the 120-year-old company with 12,000+ stores across the U.S., Latin America, and Europe.