Walgreens’ stock on pace for its best day ever on report of talks of sale to private equity — but still on pace for its worst year

Shares of Walgreens Boots Alliance Inc. launched higher on Tuesday after the Wall Street Journal reported that the drugstore chain was in discussions to sell itself to private-equity firm Sycamore Partners, following struggles with inflation and competition.

The Journal said a deal, which would take Walgreens private, could be done early next year, provided an agreement could be reached. Sycamore would then probably sell parts of the drugstore chain or collaborate with partners, the Journal said.