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Stay public or go private? Walgreens were reportedly in talks with investors



  Walgreens is being pursued by investors with a view to the potentially private drugstore chain.

The Walgreens Boots Alliance, whose stock price has dropped because it cut costs and reshuffled its offerings, is considering private investors becoming private equity investors, according to Reuters.

The drugstore chain spoke with some private equity firms and was advised by Evercore Partners, an investment bank, citing sources that did not want to be named because the preliminary talks were confidential.

Walgreens declined to comment.

Retail equities rose 2.7% to $ 61

.30 on Tuesday, a clear contrast to the longer trend line this year, where Walgreens shares fell 19% by the end of October. The slowing stock price may have sparked interest from private equity firms.

Amidst low profits from pharmaceutical sales and increasing competition from other sellers, Walgreens said it would close 150 of its clinics last month by the end of this year. Earlier, the retailer announced that it had closed 200 stores.

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The company, the nation's largest drugstore chain with a total of 9,400 US locations, is taking steps to innovate its business.

Providing more comprehensive care in some of its clinics, it will work with weight loss company Jenny Craig to open 100 locations in Walgreens stores, and debuted on-demand dragnet delivery in Christiansburg last month , Virginia.

Contribute: The Associated Press

Follow USA TODAY Reporter Charisse Jones on Twitter @charissejones


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