U.S. drugstore chain operator Walgreen Co is exploring the sale of a majority stake in its infusion services business, in a deal that could value that division at around $1.5 billion, according to four people familiar with the matter. The Deerfield, Illinois-based company has hired Bank of America Corp to run a sale process for Walgreens Infusion Services, which has already attracted interest from private equity firms, the people said this week.On offer is a controlling stake of just over 50 percent in Walgreens Infusion Services, which has annual earnings before interest, tax, depreciation and amortization of around $105 million, one of the people added.The sources asked not to be identified because the talks are confidential. Walgreen failed to comment while a Bank of America spokesman did not respond to a request for comment.With a staff of more than 1,600 clinicians, the unit for sale offers infusion services at home and at care centers across the United States. Its infusion therapies are used for medical conditions such as bleeding disorders and serious infections.
Bank of America Corporation (Bank of America) is a bank holding company, and a financial holding company. Shares of BAC traded higher by 0.12% or $0.02/share to $17.05. In the past year, the shares have traded as low as $13.60 and as high as $18.03. On average, 72080304 shares of BAC exchange hands on a given day and today's volume is recorded at 91842472.
Walgreen Co. (Walgreens) together with its subsidiaries, operates as a retail drugstore chain in the United States. Shares of WAG traded higher by 1.13% or $0.68/share to $61.10. In the past year, the shares have traded as low as $53.76 and as high as $76.39. On average, 8925600 shares of WAG exchange hands on a given day and today's volume is recorded at 9195068.
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