Shares of Walgreens Boots Alliance (NASDAQ:WBA) surged in midday trade on Monday after confirmation that KKR has approached the company about a potential takeover bid.
Private equity firm KKR made a formal offer to take the company private in a deal that could be worth up to $70 billion, Bloomberg reported.
Walgreens has been debating about going private in one of the biggest buyouts in history, according to various reports.
Shares of Walgreens jumped 6.4% on the news.
