KKR may acquire Walgreens Boots Alliance in record $70-billion deal

Walgreens Boots shares rose 6.3 per cent to $63.02 at 10.09 am in New York trading. Its bonds in Europe fell

Walgreens Boots Alliance, the $70-billion drugstore chain, has received a buyout proposal from the private equity group KKR, a deal that would be the biggest private equity transaction on record. The New York-based private equity firm has been preparing a proposal to potentially buy out shareholders of Walgreens Boots, said the people, who asked not to be identified because discussions are private. It’s unclear how feasible the transaction would be, given the need for large amounts of financing, and Walgreens Boots and KKR could decide against pursuing a deal, the people said.

Walgreens Boots shares rose 6.3 per cent to $63.02