Tariffs Won't Stop Walgreens Buyout, Barclays Says
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Walgreens Boots Alliance’s leveraged buyout by Sycamore Partners will likely go ahead in the fourth quarter despite market turmoil from new U.S. tariffs, according to bond analysts at Barclays. Sycamore pulled out of its proposed buyout of Victoria’s Secret owner L Brands in 2020, arguing that the pandemic triggered a “material adverse change,” or MAC, clause in its purchase agreement. The MAC clause in the Walgreens deal excludes political conditions or changes and “we don’t see a clear out due to current market disruption,” Barclays analysts said Tuesday.
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