Walgreens Boots Alliance Inc is reportedly evaluating an offer to sell itself to private equity giant KKR, and Warren Buffett could insert himself into the saga, a portfolio manager told.
Wall Street analysts and the financial media community are almost unified in speculating that a KKR acquisition of Walgreens won't play out, Cole Smead, managing director and portfolio manager at Smead Capital Management, said.
Behind the scenes, Walgreens CEO Stefano Pessina is the largest shareholder, and he has worked with KKR in the past to take Alliance Boots private, Smead said.
The deal talks could even see Buffett taking a stake through warrants or equity, adding that Walgreens boasts a lot of the franchise opportunities that Buffett likes.
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