Sen. Elizabeth Warren (D-MA) is raising concerns about Walgreens Boots Alliance’s $10 billion sale to private-equity firm Sycamore Partners. Warren fears the buyout could worsen the company’s already struggling situation, leading to store closures, service decline, job losses, and potential bankruptcy. Warren highlights that despite growing sales and prescriptions, Walgreens reported a net loss of $8.6 billion in fiscal year 2024. The acquisition is funded mostly through debt, prompting Warren to question Sycamore’s plans for store closures, layoffs, and real estate sales. Warren is advocating for accountability for private-equity firms like Sycamore through her Stop Wall Street Looting Act.

Sycamore Partners completed the Walgreens deal, assuring that they view the company as essential to the communities they serve and will work to enhance the customer experience. Shareholders received $11.45 per share with potential additional earnings based on the future sale of Walgreens’ stake in VillageMD. Warren continues to advocate for accountability for private-equity firms like Sycamore, emphasizing the vulnerability of communities until action is taken.

Read more at Yahoo Finance.: Elizabeth Warren Warns About The Walgreens Takeover, Saying ‘Private Equity Has A Record Of Running Companies Into The Ground’