Walgreens In Talks To Buy Evolent Health: Bloomberg

Walgreens Boots Alliance Inc WBA is reportedly mulling an acquisition of Evolent Health Inc EVH.
Citing people familiar with the matter, Bloomberg reported that the talks are ongoing, and there is no certainty Walgreens will move forward with an offer to buy the company.
Walgreens previously said it was focused on making strategic investments to build on its core pharmacy business.
Last week, it made a $970 million investment to acquire a majority stake in specialty pharmacy company Shields Health Solutions.
EVH is a healthcare IT services company, while WBA operates a chain of pharmacies.
The potential takeover could give Walgreens an edge over the competition in the drugstore space as more retail sales shift online.
Activist investor Engaged Capital disclosed a nearly 10% stake in Evolent in August 2020 and pushed it to explore ways to create value, including through a partial or complete sale.
Read Next: Stock Wars: CVS Health Vs. Walgreens Boots Alliance.
Price Action: EVH stock traded 0.73% higher at $29.15 premarket on the last check Thursday, and WBA stock closed 1.29% higher at $48.71 on Wednesday.