Podcast of business and financial stories, Behind the Money

Behind the Money

Podcast of business and financial stories

From hostile takeovers to C-suite intrigue, Behind the Money takes you inside the business and financial stories of the moment with reporting from Financial Times journalists around the world.

Equity Bottom-Up

Walgreens Boots Alliance / Equity Bottom-Up

<ul><li>Walgreens Boots Alliance has seen their stock price decimated over the last decade due to competition from E-commerce retailers like Amazon.</li><li>Sycamore Partners is taking Walgreens Boots private in a $24 billion leveraged buyout, their first foray into the healthcare sector.</li><li>Major private equity firms have been cautious of retail buyouts due to potential bad publicity and shifting priorities towards other investments.</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.</em></p>

Walgreens Boots Alliance has seen their stock price decimated over the last decade due to competition from E-commerce retailers like Amazon.Sycamore Partners is taking Walgreens Boots private in a $24 billion leveraged buyout, their first foray into the healthcare sector.Major private equity firms have been cautious of retail buyouts due to potential bad publicity and shifting priorities towards other investments.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only.

Retail’s last barbarian takes on Walgreens Boots

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul><li>Walgreens Boots Alliance's latest earnings reveals a mixed financial and strategic picture for the company, which has been taking significant strides in response to ongoing challenges and strategic realignments.</li><li>On the positive side, the company has initiated a turnaround strategy for its U.S. Retail Pharmacy business as a crucial focus area.</li><li>The company made progress in optimizing its store footprint, with positive early results and better-than-expected script retention rates following store closures.</li></ul>

Walgreens Boots Alliance's latest earnings reveals a mixed financial and strategic picture for the company, which has been taking significant strides in response to ongoing challenges and strategic realignments.On the positive side, the company has initiated a turnaround strategy for its U.S. Retail Pharmacy business as a crucial focus area.The company made progress in optimizing its store footprint, with positive early results and better-than-expected script retention rates following store closures.

Walgreens Boots Alliance: An Insight Into Its Procurement Optimization

<ul><li>Walgreens Boots Alliance (WBA), a well-known retail pharmacy giant, has been making headlines due to potential buyout discussions with Sycamore Partners, a private equity firm.</li><li>Walgreens' shares surged after reports surfaced about these ongoing talks.</li><li>This comes amid a challenging business environment marked by margin pressures from pharmacy benefit managers (PBMs), store closures, and rising operating costs.</li></ul>

Walgreens Boots Alliance (WBA), a well-known retail pharmacy giant, has been making headlines due to potential buyout discussions with Sycamore Partners, a private equity firm.Walgreens' shares surged after reports surfaced about these ongoing talks.This comes amid a challenging business environment marked by margin pressures from pharmacy benefit managers (PBMs), store closures, and rising operating costs.

Walgreens Buyout Buzz: Why Sycamore Partners May Bet Big on the Struggling Pharmacy Giant!

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Index Rebalance

Interactive Brokers Group, Inc / Index Rebalance

<ul>
<li>The S&amp;P 500 index tracks the 500 largest names listed in the US and it is one of the most highly-tracked indices in the world.</li>
<li>In this insight, we take a look at the upcoming constituent changes in the run up to the September 2025 index rebal event.</li>
<li>We expect two regular changes in September 2025 - maybe $10bn a side. There are also a couple of live M&amp;A events which are likely to trigger intra-review index changes.</li>
</ul>


The S&amp;P 500 index tracks the 500 largest names listed in the US and it is one of the most highly-tracked indices in the world.
In this insight, we take a look at the upcoming constituent changes in the run up to the September 2025 index rebal event.
We expect two regular changes in September 2025 - maybe $10bn a side. There are also a couple of live M&amp;A events which are likely to trigger intra-review index changes.


[Quiddity Index] S&P500/400/600 Sep25 Rebal: Two Possible Changes, But One Iffy

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

<ul>
<li>
<a href="https://www.smartkarma.com/entities/amazon-com-inc" target="_blank" data-smartkarma-citation="entities:409:1" rel="noopener">Amazon.com Inc (AMZN US)</a> will replace <a href="https://www.smartkarma.com/entities/walgreens-boots-alliance-inc" target="_blank" data-smartkarma-citation="entities:1118:1" rel="noopener">Walgreens Boots Alliance (WBA US)</a> in the <a href="https://www.smartkarma.com/entities/dow-jones-industrial-average" target="_blank" data-smartkarma-citation="entities:22887:1" rel="noopener">Dow Jones Industrial Average (INDU INDEX)</a> at the close on 23 February.</li>
<li>Passives will need to sell a lot of <a href="https://www.smartkarma.com/entities/walmart-inc" target="_blank" data-smartkarma-citation="entities:11134:1" rel="noopener">Walmart (WMT US)</a> following the 3:1 stock split and buy a lot of <a href="https://www.smartkarma.com/entities/amazon-com-inc" target="_blank" data-smartkarma-citation="entities:409:1" rel="noopener">Amazon.com Inc (AMZN US)</a>. </li>
<li>Given the ad hoc nature of the rebalances and the short timeline between announcement and implementation, the stocks could move over the rest of the week.</li>
</ul>



Amazon.com Inc (AMZN US) will replace Walgreens Boots Alliance (WBA US) in the Dow Jones Industrial Average (INDU INDEX) at the close on 23 February.
Passives will need to sell a lot of Walmart (WMT US) following the 3:1 stock split and buy a lot of Amazon.com Inc (AMZN US). 
Given the ad hoc nature of the rebalances and the short timeline between announcement and implementation, the stocks could move over the rest of the week.


Dow Jones Industrials (INDU) Index Rebalance: Amazon (AMZN) Replaces Walgreen Boots (WBA)

United States

Walgreens Boots Alliance, Inc., operates retail drugstores that offer a wide variety of prescription and non-prescription drugs as well as general goods. Walgreens' also offers health services, including primary and acute care, wellness, pharmacy and disease management services and health and fitness.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Walgreens Boots Alliance (WBA US)

Retail’s last barbarian takes on Walgreens Boots

Walgreens Boots Alliance has seen their stock price decimated over the last decade due to competition from E-commerce retailers like...

Behind the Money

Walgreens Boots Alliance: An Insight Into Its Procurement Optimization

Walgreens Boots Alliance's latest earnings reveals a mixed financial and strategic picture for the company, which has been taking significant...

Baptista Research

Walgreens Buyout Buzz: Why Sycamore Partners May Bet Big on the Struggling Pharmacy Giant!

Walgreens Boots Alliance (WBA), a well-known retail pharmacy giant, has been making headlines due to potential buyout discussions with Sycamore...

Baptista Research

[Quiddity Index] S&P500/400/600 Sep25 Rebal: Two Possible Changes, But One Iffy

We expect IBKR and possibly APP to join the S&P500 in September. We expect two deletes. MSTR has moved to second place BUT it has issues which...

Travis Lundy

Dow Jones Industrials (INDU) Index Rebalance: Amazon (AMZN) Replaces Walgreen Boots (WBA)

Amazon replaces Walgreen Boots in the Dow Jones Industrial Average at the close on 23 February following Walmart's stock split. There will be over...

Brian Freitas

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)