Walgreens‘ stock surges after report drug chain explored a deal to go private

Shares of Walgreens Boots Alliance Inc. shot up 4.2% in afternoon trading, after soaring 8.9% over the previous two sessions, after a Reuters report that the drugstore chain has been exploring a deal to go private. The stock-price gain of $2.48 was adding 17 points to the Dow Jones Industrial Average , which was up 75 points. A 13D/A filing with the Securities and Exchange Commission on Tuesday showed that Luxembourg-based Alliance Sante Participations S.A. (ASP) controlled 144.8 million shares, or 16.2% of the shares outstanding. Walgreens Chief Executive Stefano Pessina is administrateur, or director, of ASP. Walgreens did not immediately respond to a request for information or comment. The stock has run up 20% over the past three months, while the Dow, of which Walgreens is a component, has gained 7.1%.

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