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A $70bn Walgreens buyout would signal the top of the market

The deal would be the biggest LBO ever and has echoes of another troubled deal from the past

Thursday 7 November 2019 at 00:01

US drugstore group Walgreens acquired UK chemist Boots in 2014
US drugstore group Walgreens acquired UK chemist Boots in 2014 Photo: Getty Images

If investors ever needed a clear signal that this is the top of the market, they now have one.

Walgreens Boots Alliance shares surged on November 6 after speculation that the US-listed drugstore group has been considering a $70bn take-private deal.