Sycamore Partners has approached lenders including Bank of America (BAC) and JPMorgan (JPM) about funding its prospective bid for Walgreens Boots Alliance (WBA), Mark Kleinman of Sky News reports. Sycamore is arranging debt funding for a deal to buy Walgreens with Bank of America, JPMorgan and Wells Fargo (WFC), according to Sky. Shares of Walgreens are up 4%, or 41c, to $10.14 following the report.
Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WBA:
- Sycamore seeking financing for $10B+ offer for Walgreens Boots, Sky News reports
- Leerink says Walgreens, Sycamore deal ‘far from a slam dunk’
- Walgreens buyout ‘harder to contemplate,’ says Morgan Stanley
- Unusually active option classes on open December 11th
- M&A News: Walgreens Stock (WBA) Soars amid Potential Acquisition by Sycamore